ChemChina targets Dow assets

China National Chemical Corp (ChemChina) has taken part in the first round of bidding for assets belonging to Dow Chemical, the South China Morning Post reported. China’s largest chemical maker had bid for Dow’s agrochemical unit and a specialty chemicals business, which together are expected to attract between US$9 billion and US$11.5 billion. However, rather than a full divestment, sources said Dow may seek the sale of a minority stake in the two units. Dow is hoping a sale will help it pay off a US$9.5 billion bridge loan it used to acquire specialty materials company Rohm & Haas earlier this year.