Ineos said to be in talks to sell parts of business to tackle rising debt

Talks reportedly focused on assets of owner Jim Ratcliffe’s vinyls business Inovyn as group scrambles to cut costs

The chemicals empire owned by the billionaire Jim Ratcliffe is in talks to sell parts of the business in the hope of raising hundreds of millions of pounds to tackle its rising debts, according to a report.

The talks are at an early stage but have focused on selling assets from Ratcliffe’s vinyls business, Ineos Inovyn, the Financial Times said, citing people familiar with the matter.