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Siam Cement to Increase Stake in Thai Plastic and Chemicals

4:15 AM MST | December 23, 2011 | Deepti Ramesh

Siam Cement Group (SCG; Bangkok) says its chemicals subsidiary SCG Chemicals will acquire a 23.67% stake in Thai Plastic and Chemicals (TPC; Bangkok), an affiliate of SCG, for baht6.21 billion ($198 million). SCG currently holds 45.64% stake in TPC, and following the acquisition of the additional shares in TPC by SCG Chemicals, the group will own a total of 69.31% stake in TPC. SCG Chemicals will buy 18.44% shares of TPC from CPB Equity Co. and 5.23% shares of TPC from an individual shareholder Yos Euarchukiati. The transaction is expected to be completed by the...

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