International Petrochemical Investment Company (IPIC, Abu Dhabi / UAE; www.ipic.ae) ("IPIC") has completed its acquisition of Nova Chemicals (Calgary, Alberta / Canada; www.novachem.com) for USD 2.3 bn including debt. Under the agreement, which was approved by Nova Chemical’s shareholders in April 2009 – see Plasteurope.com of 21.04.2009 – Nova will continue to operate its chemicals and plastics business from its Calgary base. The deal was approved by the Canadian Minister of Industry on 3 July, following an agreed extension to the review by the government under the Investment Canada Act. De-listing of common Nova Chemicals shares from the Toronto Stock Exchange and the New York Stock Exchange is expected to occur shortly.