- Dow sells its 50% stake in DowAksa for $125 million.
- The sale reflects an enterprise value of 10x estimated 2025 EBITDA.
- Completion is expected in Q3 2025, subject to approvals.
- BNP Paribas served as Dow's financial advisor.
Transaction Overview
Dow has signed an agreement to sell its 50% interest in DowAksa Advanced Composites Holdings BV to Aksa Akrilik Kimya Sanayii A.Ş., part of Akkök Holding. The transaction is valued at $125 million, reflecting an enterprise value of approximately 10 times the estimated 2025 operating EBITDA after accounting for debt.
Strategic Alignment
This decision aligns with Dow's strategy to focus on its core, high-value downstream businesses. The proceeds from the sale will support Dow's balanced capital allocation approach, reinforcing its commitment to optimizing its portfolio.
Timeline and Conditions
The sale is expected to close in the third quarter of 2025, pending customary regulatory approvals and other closing conditions. This timeline provides a clear path for the transition of ownership and integration into Aksa Akrilik's operations.
Advisory Role
BNP Paribas acted as the exclusive financial advisor to Dow for this transaction, ensuring that the deal aligns with Dow's strategic and financial objectives.
