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Siam Cement to Bid for Indonesian Petchem Assets

5:13 AM MDT | August 31, 2011 | Deepti Ramesh

Siam Cement Group (SCG; Bangkok) plans to make a bid to acquire petrochemical company Sulfindo Adi Usaha (Jakarta), and SCG is also planning to acquire a stake in Chandra Asri Petrochemical (Jakarta), say press reports. The deals are expected to involve a total investment of about $1.1 billion.  Victoria Group, which owns Sulfindo Adi Usaha, is planning to sell the company for about $700 million. Hanwha Chemical (Seoul) also plans to bid for Sulfindo Adi Usaha, reports say. Temasek Holdings (Singapore) is planning to sell its 23% stake in Chandra Asri for...

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