A fund managed by Macquarie Asset Management has entered into a definitive agreement to acquire a 40 percent equity stake in select U.S. Gulf Coast infrastructure assets of Dow, creating a new partnership known as Diamond Infrastructure Solutions.
As a dedicated infrastructure company, Diamond will be a new business model with greater strategic focus on operational efficiencies and new customer acquisition.
Diamond is composed of certain nonproduct-producing assets (power and steam production, pipelines, environmental operations and general site infrastructure). The company will be a specialist infrastructure provider to Dow and other industrial customers at its five manufacturing sites in the U.S. Gulf Coast, specifically in Texas and Louisiana.
Dow expects to receive $2.4 billion of initial cash proceeds for its 40 percent minority equity stake sale, with the potential to generate up to approximately $3 billion of cash proceeds for a 49 percent minority equity
