PTT Global acquires European chemicals producer

The company will acquire 100% common stocks of Allnex Holding for 132.6 billion baht, or €3.58bil (RM17.83bil), and also assume €426mil (RM2.12bil) of loans, it said in an exchange filing. It will finance the acquisition through own cash and with support from its parent PTT Pcl, it said.

BANGKOK: Thailand’s PTT Global Chemical Pcl will acquire Allnex Holding GmbH, a European specialty chemicals maker, for €4bil (US$4.75bil or RM19.91bil) to scale up its presence in the high-value chemicals products.

PTT Global’s shares slumped the most in more than a year.