Thailand’s PTT Global Chemical has agreed to buy resins maker Allnex from buyout group Advent in a €4 billion euro deal, one of the largest acquisitions by a Thai company in recent years.
PTT Global Chemical Company Limited is a Bangkok, Thailand headquartered global chemical company with diversified and comprehensive petrochemical businesses, including manufacturing and distribution of upstream, intermediate and downstream petrochemical products. PTTGC is listed on The Stock Exchange of Thailand and has revenues exceeding U.S. $10 billion. PTT Public Company Limited, the Thai state (51% owned) integrated energy and petrochemical enterprise, and a Fortune Global 500 company, is the major shareholder and will provide debt financing.
Allnex has advised it customers that there will be no change in service, and emphasised that becoming a part of GC will expand its global network.
A profile on PTT Global Chemical Public Company Limited can be found here.
Notice to customers at this link.
Rueters reporting at this link.