PetChem buys Perstorp in RM10.5bil deal

Petronas Chemicals Group Bhd (PCG) managing director/CEO Ir. Mohd Yusri Mohamed Yusof (seated, left) and PAI Partner Fabrice Fouletier (seated, right). Standing from left: PCG chief financial officer Mohd Azli Ishak, Perstorp president and CEO Jan Secher and PAI Partner Ragnar Hellenius.

KUALA LUMPUR: Petronas Chemicals Group Bhd (PCG) has announced the landmark acquisition of the entire equity interest in Perstorp Holding AB for RM7.018bil cash.

In a statement Tuesday, PCG said it had on May 14 signed a securities purchase agreement to acquire Perstorp, a leading sustainability-driven global specialty chemicals company, for EUR1.538bil, which is equivalent to RM7.018bil.