Dow Sells 50 % Stake in Dowaksa to Aksa Akrilik Kimya Sanayii

Business Strategy Dow Sells 50 % Stake in Dowaksa to Aksa Akrilik Kimya Sanayii

2025-06-03 Source: Press release Dow 1 min Reading Time

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Dowaksa is a 50:50 joint venture between Dow and Aksa Akrilik Kimya Sanayii. Dow has signed a sale and purchase agreement with Aksa Akrilik Kimya Sanayii to acquire its 50 % stake in the joint venture firm.

The sale is expected to close in the third quarter of 2025, subject to customary regulatory approvals and other closing conditions.(Source: Dow Chemical Company) — The sale is expected to close in the third quarter of 2025, subject to customary regulatory approvals and other closing conditions.
(Source: Dow Chemical Company)

Michigan/USA – Dow has signed a sale and purchase agreement to sell its 50 % interest in Dowaksa Advanced Composites Holdings (Dowaksa) to Aksa Akrilik Kimya Sanayii, a company of Akkök Holding. Aksa Akrilik Kimya Sanayii, the other 50 % joint venture partner, has agreed to acquire Dow's 50 % interest. Dow's proceeds from the sale are expected to be 125 million dollars, which reflects, after accounting for debt, an enterprise value of approximately 10x the estimated 2025 operating EBITDA.

Dow's decision to exit the joint venture, which was formed in 2012, is consistent with Dow's best-owner mindset strategy of focusing on its core, high-value downstream businesses. The proceeds from the transaction will be used to support the Company's balanced capital allocation approach.

The sale is expected to close in the third quarter of 2025, subject to customary regulatory approvals and other closing conditions.

BNP Paribas acted as exclusive financial advisor to Dow on this transaction.

(ID:50440686)

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