Ineos agrees to buy Borealis AS for 290 mn euros

LONDON: Ineos Group Holdings Plc, a closely held chemicals maker, agreed to buy Borealis AS for 290 million euros ($392 million) to add its petrochemical factories in Norway.

Under the terms of the deal, Ineos will also acquire the 50 per cent stake it doesn't already own in an ethylene cracker, the Lyndhurst, England-based company said in a statement today on its Web site.