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People & Business :: M&A
PTT Buys 25% Stake in Ube Thailand Unit
10:54 AM MDT | May 23, 2012 | Natasha Alperowicz
Thai refiner and petrochemicals producer IRPC Plc, a subsidiary of PTT Plc., said on Wednesday that its board has approved the purchase of a 25% stake in Ube Chemicals (Asia) Plc, a Thailand-based subsidiary of Ube Industries (Tokyo) for baht 5.3 billion ($169 million). IRPC, in its filing to the stock exchange, said that the deal will involve buying 193.48 million new shares issued by Ube Chemicals and another 75 million common shares from Ube Industries. Ube Chemicals (Asia), established in 2010 throught the merger of Thai Caprolactam Public...
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