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Nova Chemicals Reports IPIC Transaction Closing Extension

Jul 03, 2009 (Close-Up Media via COMTEX) --

Company: Nova Chemicals Corp. (NCX)

Nova Chemicals announced that International Petroleum Investment Company (IPIC) has agreed with the Investment Review Division of Industry Canada to an extension of its review under the Investment Canada Act of IPIC's acquisition of Nova Chemicals until July 6.

Nova Chemicals expects to close the transaction with IPIC shortly after receipt of the Investment Canada Act approval.

Additionally, Nova Chemicals and its lenders have agreed to amended financial covenants for the remainder of 2009.

Nova Chemicals produces plastics and chemicals, and develops and manufactures materials for customers that produce consumer, industrial and packaging products.

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Company: Nova Chemicals Corp. (NCX)


Related terms: acquisition, canada, chemicals, consumer, industrial, investment, manufacturer, packaging, plastics, products

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