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PTT Global Chemical to acquire full control of PTT Phenol

4:24 AM MDT | April 29, 2013 | Natasha Alperowicz

PTT Global Chemical (PTTGC; Bangkok) says it will buy the 40% it does not already own in PTT Phenol from parent PTT for 4.97 billion baht ($169.88 million). The transaction, scheduled to close by the end of May this year, will make PTT Phenol a wholly owned subsidiary of PTTGC. PTT Phenol, based at Map Ta Phut, operates a complex designed to produce 200,000 m.t./year of phenol, 124,000 m.t./year of acetone, and 150,000 m.t./year of bisphenol A.   The deal is in line with a policy to build the PTTGC as the petrochemical flagship and to get into the...

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