Siam Cement Eyes Indonesian Chem Company

Thai industrial conglomerate Siam Cement will tender an offer for an Indonesian petrochemical company.

Thai industrial conglomerate Siam Cement will tender an offer for an Indonesian petrochemical company, Reuters reports. The company is seeking to buy PT Sulfindo Adiusaha, a chemical producer controlled by Indonesia’s Tanojo family.

South Korea’s Hanwha Chemical Corp may also place a bid for Sulfindo Adiusaha. Tanojo-controlled Victoria Group is looking to fetch about $700 million from the complete sale of Sulfindo Adiusaha.

Click here for the story from Reuters.