KLK
KUALA LUMPUR: Kuala Lumpur Kepong Bhd
(KL Kepong) has proposed to buy Elementis Specialities Netherlands B.V. (ESN) in Delden, the Netherlands for 39mil euros or RM187.2mil.
KL Kepong said on Tuesday its unit Kolb Distribution AG had inked a deal with Elementis B.V to acquire its entire interest in ESN, together with its working capital, assets and surfactant chemicals business.
The proposed acquisition will be funded by a combination of KL Kepong's existing cash reserves and bank borrowings.
“The Delden site will expand the existing Kolb business portfolio in terms of prdocut range and market coverage. The use of the Delden site as another hub for the KLK Group's market penetration strategy and will further accelerate growth in the group's downstream chemical specialities busines sin Europe,” it said.
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