6 November 2013,
Details
Petronas Chemicals Group Berhad (PCG)
is established as part of the PETRONAS Group to
maximise value from Malaysia's natural gas resources.
Petronas Chemicals Group has entered into an agreement to
divest all its interest in
Phu My Plastics and Chemicals Co., Ltd. (PMPC) to
Asahi Glass Co.,Ltd and Mitsubishi Corporation.
Petronas Chemicals Group holds 93.11 % interest in PMPC,
a company located in Vietnam with a production capacity of
100,000 tons per year of polyvinyl chloride (PVC).
The divestment is part of Petronas Chemicals Group's plan
to discontinue its vinyl business as announced last year,
in line with its portfolio optimisation strategy.
Completion of the divestment is expected by Q2 2014,
subject to conditions in the agreement being met.
Deutsche Bank acted as a financial adviser to
Petronas Chemicals Grop in relation to the transaction.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
