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Business

Siam Cement To Buy 30% Of Chandra Asri

by Jean-François Tremblay
September 26, 2011 | A version of this story appeared in Volume 89, Issue 39
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Thailand’s Siam Cement will pay $425 million for a 30% stake in Chandra Asri Petrochemical, Indonesia’s only producer of ethylene. Siam Cement is buying a 23% stake in Chandra Asri from Apleton Investments, a subsidiary of the Singapore government-owned conglomerate Temasek Holdings. It is getting the other 7% from Barito Pacific, an Indonesian firm that will remain Chandra Asri’s largest shareholder. In addition to olefins, Chandra Asri produces basic polymers such as polyethylene and polypropylene.

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