Deals
PTT Global Buys European Chemicals Maker for $4.75 Billion
- Thai chemicals producer acquire 100% of Allnex, assume loans
- PTT Global to fund acquisition with own cash, PTT support
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Thailand’s PTT Global Chemical Pcl will acquire Allnex Holding GmbH, a European specialty chemicals maker owned by private equity firm Advent International, for 4 billion euros ($4.75 billion) to scale up its presence in the high-value chemicals products.
PTT Global will acquire 100% common stocks of Allnex Holding for 132.6 billion baht, or 3.58 billion euros, from Advent International and also assume 426 million euros of loans, it said in an exchange filing on Monday. The company will finance the acquisition through own cash and with support from its parent PTT Pcl, it said.