Thailand's top industrial conglomerate, Siam Cement Pcl confirmed an interest in buying stakes in two petrochemical companies in Indonesia worth a combined estimated US$1.1 bln (S$1.3 bln). Other details have not yet been disclosed, as per Reuters.
Indonesian chemical producer Sulfindo Adiusaha is up for sale at an estimated US$700 mln and may draw interest from Siam Cement and South Korea's Hanwha Chemical Corp. Separately, Singapore state investor Temasek Holdings is trying to sell its 23% stake in Indonesian petrochemicals maker Chandra Asri in a deal worth an estimated US$400 mln. Last week, Thailand's PTT group said it was keen to buy a stake in Chandra Asri.