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Cognis Sells Oleochemicals Stake to Thai Firm

1:52 AM MDT | July 23, 2008 | Natasha Alperowicz

Cognis says it has agreed to sell its 50% stake in Cognis Oleochemicals, an equally owned joint venture with Sime Darby Plantation (Kuala Lumpur), to PTT Chemical International (Singapore), a Singapore based subsidiary of PTT Chemical (Bangkok). Cognis will receive €104 million ($165.4 million) for its share. The agreement was signed today in Kuala Lumpur and the deal, subject to regulatory approvals, is expected to close by end of September.  Cognis Oleochemicals is a major producer of natural-based oleochemical products with plants in...

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