SCC to acquire 30% stake in Chandra Asri

Siam Cement Public Company Limited  (SCC) is to acquire a 30% stake in Indonesia's Chandra Asri Petrochemical Tbk (CAP) for 13.5 billion baht ($442 million) as part of its Southeast Asian expansion drive. Siam's wholly-owned unit, SCG Chemicals Co Ltd, has signed agreements to acquire 218.52 million CAP shares from PT Barito Pacific Tbk and another 701.34 million CAP shares from Apleton Investments Ltd. CAP, Indonesia's largest petrochemical maker, is one of two Indonesian companies sought by Siam Cement, Thailand's biggest industrial conglomerate. The other is Sulfindo Adiusaha, a chemical producer controlled by Indonesia's Tanojo family.

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