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Siam Cement To Acquire Additional 25% Stake In Long Son Petrochemical From Qatar Petroleum For US$36.1 Million
Mar 08, 2017 (MarketLine Financial Deals Tracker via COMTEX) -- (c) 2001-2016 Marketline. All rights reserved. Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Marketline shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.

The Siam Cement Public Company Limited (SCG), a diversified chemical company, through its wholly-owned subsidiary Vina SCG Chemicals Co Ltd., entered into a share purchase agreement to acquire an additional 25% stake in Long Son Petrochemical Co Ltd., a company that owns and operates Long Son Petrochemical Complex located in Long Son Island in southern Vietnam, from QPI Vietnam Ltd, a subsidiary of Qatar Petroleum, for a purchase consideration of THB1,300 million (MM) (US$36.1 MM). The Complex is expected to contain a 1 million tonne ethylene cracker with a flexible gas and naphtha feed, creating an olefin capacity of up to 1.6 million tonnes per year. The Complex is expected to start in 2021. Currently, the partners in Long Son Petrochemical are SCG (46%), Vietnam Oil and Gas Group (PetroVietnam) (29%) and Qatar Petroleum (25%). Following the completion of the transaction, SCG will own 71% stake and PetroVietnam will own the remaining 29% in Long Son Petrochemical. The transaction will enable SCG to strengthen its petrochemical operations.

Deal Participants

Deal Rationale

The transaction will enable SCG to strengthen its petrochemical operations.


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