Didn’t Dow inherit the Bhopal plant facility and liabilities for the Bhopal tragedy when it acquired the shares of Union Carbide Corporation?
A. No. Union Carbide India Limited (UCIL) owned, operated and managed on a day-to-day basis the Bhopal plant. UCIL was a publicly traded Indian company of which Union Carbide Corporation (UCC) owned 50.9 percent of the stock. Indian financial institutions and thousands of private investors in India owned the remaining stock. At the time of the incident, UCIL was one of the top 50 companies in India and had a 50-year history in the country. UCIL still exists today. It underwent an ownership change in 1994 when UCC sold its interest in the company to Macleod Russel India Limited. The renamed company now is known as Eveready Industries India Limited. The proceeds from this sale were used to construct and fund a hospital in Bhopal for the ongoing care and treatment of those whose health was affected by the tragedy. Today, UCC still remains a separate company, but its stock now is fully owned by The Dow Chemical Company. UCC had settled all civil claims related to the gas release with the G
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