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...It is clear that this is not just cultural appropriation by celebrities and foreign corporations, but now a cultural exploitation....
...OCI, the Dutch-listed chemical and fertiliser group, forms the bulk of Sawiris’ $8bn fortune....
...This is particularly true if antiscalants and cleaning chemicals are discharged with the brine....
...Even when Peltz loses a proxy fight to secure board seats, as he did with DuPont, the chemical manufacturer, in 2015, he finds a way to claim victory....
...The São Paulo-headquartered corporation has already paid out R$3.8bn in compensation, financial aid and relocation support under a redress scheme....
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...The group’s international shareholders include Japan’s Mitsui, the South African Public Investment Corporation, which is the continent’s largest fund manager, and Saudi Arabia’s Sabic chemicals company....
...Directors who fail to do so could be found liable for breaching their duty of care and diligence under Australia’s Corporations Act....
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...The firm also included a nice lil diagram showing a typical “double dip” transaction: And chemicals company Trinseo (formerly part of Dow Chemical) was extra creative as it borrowed $1.1bn for refinancing...
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