Merrill Lynch, UBS Warburg and Goldman Sachs are all working for UK-based Imperial Chemical Industries on its planned rights issue.

The three banks are joint brokers and advisers on the issue that, net of proceeds, should bring in about £800m (€1.3bn) for ICI. In addition, ICI plans to divest Synetix, its catalyst business, although as yet it is not clear who will be advising the company on the sale.