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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment, Market

Siam Cement buys Temasek stake in Chandra Asri

Posted on 22 September 2011

A unit of Singapore’s state investment arm, Temasek Holdings, has sold its 23 per cent stake in Indonesian petrochemical maker Chandra Asri Petrochemical to Thailand’s largest industrial conglomerate for about $318m, another sign of the race for petrochem assets in the region.
Siam Cement, through its wholly-owned unit SCG Chemicals, will buy the 23 per cent stake held by Apleton Investments, as well as an additional 7 per cent, valued at $99m, from Barito Pacific, the majority shareholder in Chandra Asri. The deal is expected to be completed by the end of the month……………………………………….Full Article: Source


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