Business News

NOVA CHEMICALS ANNOUNCES RECEIPT OF ADDITIONAL REGULATORY APPROVALS FOR IPIC TRANSACTION

Friday 12. June 2009 - NOVA Chemicals Corporation ("NOVA Chemicals") announced today that additional regulatory approvals relating to the transaction with International Petroleum Investment Company ("IPIC") have been received.

The Chinese Ministry of Commerce and the United States Committee on Foreign Investment (“CFIUS”) have cleared the transaction.
Pending remaining regulatory approvals, the transaction is expected to close around the end of the second quarter of 2009.

NOVA Chemicals produces plastics and chemicals that are essential to everyday life. Our employees develop and manufacture materials for customers worldwide that produce consumer, industrial and packaging products. NOVA Chemicals works with a commitment to Responsible Careâto ensure effective health, safety, security and environmental stewardship. Company shares are traded on the Toronto and New York stock exchanges as NCX.