PETROCHEMICALS
SCG buys stake of Asean firm
- Published: 21/09/2011 at 02:40 AM
- Newspaper section: Business
Siam Cement Group (SCG) plans to buy a 30% stake in PT Chandra Asri Petrochemical Tbk (CAP), Indonesia's leading integrated petrochemical company, for 13.5 billion baht as part of its Southeast Asian expansion drive.
The country's top industrial conglomerate told the Stock Exchange of Thailand that its wholly owned SCG Chemicals unit had entered into separate share purchase agreements to acquire 23% of CAP from Apleton Investments Ltd, a wholly owned subsidiary of Singapore-based Temasek Holdings (Pte) Ltd, and another 7% from PT Barito Pacific Tbk (Barito).
The total transaction is valued at 4,088 rupiah per share.
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