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Bracewell Represents Old World Industries in $795 Million Sale to Indorama Ventures

February 7, 2012

HOUSTON — Bracewell & Giuliani LLP is representing U.S.-based Old World Industries, LLC and Old World Management, Inc.  in the $795 million sale of Old World Industries I, Ltd. and Old World Transportation, Ltd. to Thailand’s Indorama Ventures PCL.

Old World owns the largest single ethylene oxide (EO)/ethylene glycol (EG) production facility in the U.S., with an EO capacity of 435,000 metric tons per annum. The facility is located within a large petrochemical hub in Clear Lake, Texas.

Indorama plans to use its internal cash and loans from financial institutions to fund the acquisition, which is expected to be completed within the first quarter of 2012, subject to customary regulatory approvals.