INEOS buy €400m worth of shares

Sir Jim Ratcliffe’s INEOS group completed its minority investment in Manchester United in February 2024.

It was the beginning of a new era at Old Trafford with the British billionaire taking control of football operations.

Since then, INEOS have been tasked with rebuilding a United squad which has required significant investment across several transfer windows.

That work has continued this summer under Michael Carrick, with midfield emerging as one of the biggest areas of focus.

United have already completed deals for Andrey Santos and Youri Tielemans.

Carrick has been given two major additions in the centre of the pitch ahead of the 2026/27 campaign.

However, the Red Devils are still working towards adding another midfielder before the transfer window closes, with recruitment chiefs continuing to assess possible opportunities in the market.

INEOS have now made another enormous financial move away from the pitch, involving hundreds of millions of euros.

Sir Jim Ratcliffe makes major new INEOS investment

According to the Financial Times, INEOS and its shareholders have now invested more than €400 million in shares of publicly listed European chemical companies.

The report states that INEOS Quattro recently informed investors it had invested €200 million in selected chemical companies.

That followed another €200 million purchase, disclosed earlier this year, involving a basket of publicly traded shares connected to the chemicals industry.

INEOS’ three shareholders are also reported to have committed further money alongside those investments, taking the overall figure beyond €400 million.

The move represents a significant bet from Ratcliffe on a recovery in Europe’s struggling chemical sector.

Ratcliffe has repeatedly warned about the difficult conditions facing chemical manufacturers across Europe, including high energy prices, increased regulation and competition from cheaper overseas production.

Despite those concerns, INEOS reportedly believes shares in several companies have become undervalued following years of pressure across the industry.

The Financial Times adds that the decision has attracted criticism from some INEOS creditors, particularly given the group’s significant debt pile.

Nevertheless, Ratcliffe and his fellow shareholders are effectively betting that conditions will improve and that depressed valuations across the sector currently represent an investment opportunity.