Dec 9 (Reuters) - Chemical firm Dow said on

Monday it would sell a 40% stake in some U.S. Gulf Coast

infrastructure assets to a fund managed by Macquarie Asset

Management for $2.4 billion.

Shares of Dow were up 3% at $43.26 in premarket trading.

The new partnership, Diamond Infrastructure Solutions, will

be an infrastructure provider to Dow and other industrial

customers at its five locations in Texas and Louisiana, the

company said in a statement.

The company said it expects to receive initial cash proceeds

of about $2.4 billion, with potential to receive up to about

$3.0 billion Macquarie decides to increase its equity share to

49% within six months of closing.

(Reporting by Tanay Dhumal in Bengaluru; Editing by Anil

D'Silva)