Siam Cement to Buy 30% Stake in Chandra Asri for $416 Million

Expansion planned: Chandra Asri plant at Cilegon. Siam Cement Group (SCG; Bangkok) says its SCG Chemicals subsidiary has entered into separate share-purchase agreements with Barito Pacific (Jakarta) and Apleton Investments, a wholly owned subsidiary of Temasek Holdings (Singapore), to acquire Apleton’s entire 22.87% stake and Barito Pacific’s 7.13% shareholding in Chandra Asri Petrochemical (Jakarta). Each deal is priced at Rp4,088/share, valuing the combined 30% stake at about Rp3.76 trillion ($416 million). The transactions are due to be completed...

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