Ineos to acquire Team Sky.

Ineos, a global manufacturer of petrochemicals, specialty chemicals as well as Oil & Gas, has agreed to acquire Team Sky, a British professional cycling team. Financial terms were not disclosed. The group will be renamed “Team Ineos”, with the chemicals company becoming the sole owner of the team’s holding company from 1st May. "In INEOS, I know we have found the right partner whose vision, passion, and pioneering spirit can lead us to even greater success on and off the bike," Sir Dave Brailsford, Ineos General Manager.