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Business

Total outlines Arkema plan

April 17, 2006 | A version of this story appeared in Volume 84, Issue 16

A 451-page prospectus published earlier this month details Total's plan for the spin-off of its Arkema chemicals businesses. Total will give its current investors one Arkema share for each 10 Total shares they hold, with the first trading of Arkema shares scheduled to open on May 18. The move is expected to value Arkema at between $2.4 billion and $2.5 billion. Arkema will contain three business segments: vinyl products, industrial chemicals, and performance products. Total will retain its petrochemicals and fertilizers operations and a specialties business that includes industrial rubber, resins, adhesives, and electroplating chemicals.

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