Dhunseri Petrochem (DPL) has entered into a Share Purchase Agreement (SPA) on June 14, 2018 with Indorama Ventures Public Company (IVL) and two of its subsidiary companies - Indorama Netherlands B.V. and Indorama Netherlands Cooperatief U.A. (together Indorama), to sell 50% of the company’s stake in its existing joint venture company - Egyptian Indian Polyester Company S.A.E (EIPET) to Indorama.
Simultaneously with the execution of the SPA, the company and Indorama also executed a shareholders' agreement to determine their mutual rights and obligations and other matters in connection therewith both inter se as shareholders and vis-a-vis the company and, including those relating to the management and operations of EIPET.
DPL cultivates, processes and markets tea, and manufactures petrochemicals. The company produces polyethylene terephthalate (PET) resin.
