SCG rules out bid for Grohe AG | Bangkok Post: business

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SCG rules out bid for Grohe AG

Asean focus deemed to be the best strategy

  • Published: | Viewed: 3,442 | Comments: 0
  • Newspaper section: Business
  • Writer: Nareerat Wiriyapong and REUTERS
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Siam Cement Group (SCG), Thailand's top industrial conglomerate, has decided not to join a takeover bid for Grohe AG, the German bathroom fixtures maker, in a deal that could be Europe's biggest private equity transaction this year. 

Chaovalit Ekabut, SCG's vice-president for finance and investment and the chief financial officer, said the company was approached by Grohe a few months ago and asked for details about the European company to study.

"We've already come to the conclusion that we will not join this bid, basically because we want to focus on the area that is our strong foothold, which is Asean," Mr Chaovalit told the Bangkok Post in a telephone interview from Hong Kong.

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