TITAN Petchem (M) Sdn Bhd, a unit of Titan Chemicals Corp Bhd, will acquire 100% equity in PT Petrokimia Nusantara Interindo (PT PENI), the largest Indonesian polyethylene producer, from Golden Park Ltd for US$20mil cash.
It would also facilitate the resolution of US$58mil in debts owed by PT PENI to its bankers, Titan Chemicals said in statement.
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