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Siam Cement to Acquire 30% Stake in Chandra Asri for $416 Million

12:12 AM MDT | September 20, 2011 | Deepti Ramesh

Siam Cement Group (SCG; Bangkok) says its chemical subsidiary SCG Chemicals has entered into separate share purchase agreements with Barito Pacific (Jakarta, Indonesia), and Apleton Investments Ltd., a wholly-owned subsidiary of Temasek Holdings (Singapore), to acquire Apleton’s entire 22.87% stake, and Barito Pacific’s 7.13% shareholding in Chandra Asri Petrochemical (Jakarta), at a price of IDR4,088/share for a total of about IDR3.76 trillion ($416 million). Following completion of the transactions later this month, SCG Chemicals will hold 30% stake...

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