Petronas Chemicals buys Da Vinci for RM760.6m to venture into specialty chemicals


Petronas Chemicals Group Bhd made its foray into specialty chemicals via inorganic growth with the purchase of Da Vinci Group B.V.

KUALA LUMPUR: Petronas Chemicals Group Bhd made its foray into specialty chemicals via inorganic growth with the purchase of Da Vinci Group B.V.

It had on Thursday signed a sale and purchase agreement to buy 100% of Da Vinci from its shareholders including, amongst others, funds managed by Bencis Capital Partner. The purchase was 163mil euros (RM760.60mil)

The Netherland incorporated Da Vinci Group is a private-limited liability company with global operations involving own-brand reselling, formulating and manufacturing of silicones, lube oil additives and chemicals.

Petronas Chemicals recently announced its next chapter of growth focusing on future strategic positioning venturing into derivatives and specialty chemicals.

Its managing director/CEO Datuk Sazali Hamzah said the acquisition was a strategic entry point for its specialty chemicals portfolio. 

“The acquisition accelerates the realisation of Petronas Chemicals' vision to create value by diversifying its product portfolio into differentiated and specialty chemicals,” he said.

Sazali said the acquisition enabled Petronas Chemicals to boost its competitiveness in attractive end-markets such as personal care, construction, paints & coatings, electronics, automotive and healthcare, particularly in the Asia Pacific region.

Get 30% off with our ads free Premium Plan

Monthly Plan

RM9.73/month

Annual Plan

RM8.63/month

Billed as RM103.60/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

CIMB’s succession planning coming into sharp focus
Quebec pension hit with real estate loss as ‘hostile’ market persists
Strong earnings visibility for Matrix Concepts
TRX takes the spotlight
Japan takes Taiwan’s helping hand in chip ops
TM sets sights on even stronger growth this year
Soul-searching for ringgit solutions
Central Europe shoppers still shell-shocked
UMWT to drive green mobility growth
Sarawak’s new energy play gains more attention

Others Also Read