Indorama Ventures Public Company Limited (SET:IVL) entered into a purchase agreement to acquire polyethylene terephthalate plant in Apple Grove, West Virginia, and its research and development centre in Sharon Center, Ohio from M&G USA Corporation and M&G Polymers USA for $10 million on January 17, 2018. Under the terms of agreement, Indorama Ventures will pay $6 million in cash along with assuming the liabilities. An escrow amount of $0.6 million has been deposited with the counsel agent of M&G USA Corp. and M&G Polymers, which will be treated as termination fee in case of transaction is terminated from Indorama Ventures. The transaction is subject to approval from bankruptcy court. As of December 20, 2018 Indorama Ventures Public Company Limited received all the regulatory clearance in the US for the proposed acquisition of integrated purified terephthalic acid polyethylene terephthalate. (SET:IVL)Michael Cohen of Jones Day acted as bankruptcy advisor to M&G USA Corp. and M&G Polymers. Nicholas San Filippo, Paul Kizel, and Sam Khan of Lowenstein Sandler LLP acted as legal advisor and HSBC Bank PLC has acted as financial advisor to Indorama Venture. Michael Cohen, Jeffrey Symons and Carl Black of Jones Day acted as legal advisor to M&G USA Corporation. Indorama Ventures Public Company Limited (SET:IVL) completed the acquisition of polyethylene terephthalate plant in Apple Grove, West Virginia, and its research and development centre in Sharon Center, Ohio from M&G USA Corporation and M&G Polymers USA on December 28, 2018.