SINGAPORE (Yosefardi) – SCG Chemicals Co Ltd has agreed to acquire 22.83% interest in Bangkok Synthetics Co Ltd from NSL Chemicals Ltd for S$328.3 million.
“The sale will allow NSL to better align its strategy to develop and grow four core businesses—construction, environmental services, engineering, and chemicals,” the company said this morning.
The proposed divestment will result in an estimated gain of S$119.8 million to NSL Ltd, parent of NSL Chemicals Ltd.
Standard Chartered Bank acted as the financial adviser to NSL in the divestment.
In recent years, Bangkok Synthetics has undertaken a significant downstream investment plan and may continue to invest in new projects for the next stage of its development.