26-27 Aug, 2014 - Jakarta, INDONESIA
Le Meridien Jakarta
Le Meridien Jakarta
A recent report in The Edge Review's Market Intelligence, revealed that Wilmar International Ltd., one of Asia's leading agribusiness groups, has shown interest in acquiring Malaysia based Sime Darby's oleochemicals division.
In fact the report suggests that the preliminary negotiations have already begun.
Wilmar has indicated that it's keen on acquiring Emery Olechemicals - a leader in natural-based chemicals - where Sime Darby holds 50 per cent stakes.
However, details on pricing and final deal is yet to be finalized.
Moreover, before the acquisition takes place, approval from Thailand based energy group - PTT Global Chemical has to be sought as PTT holds the remaining 50 per cent in Emery.
Meanwhile, bankers claim that Thailand's largest petrochemical maker - PTT Global, has pre-emption rights in the event of any planned divestment by Sime Darby. Plus, the Thai petrochemical honcho has already shown keen interest in taking full control of Emery in the past.
(Note: This story first appeared in The Edge Review's Market Intelligence Report section in February 2014).
Stay tuned on the latest developments in the oleochemicals industry at CMT's 2nd Oleochemicals Outlook conference in Jakarta on 26-27 August 2014. Visit www.cmtevents.com for more information.
