Thailand's SCG buys rest of Vietnam's Long Son Petrochemicals for $90.2m

Thai industrial conglomerate Siam Cement Group (SCG) has signed an agreement to acquire the 29 per cent stake it does not currently own in Vietnam’s Long Son Petrochemicals (LSP) for over VND2.05 trillion ($90.2 million), according to a stock exchange filing by the Thai firm.

Vina SCG Chemicals, a wholly owned subsidiary of SCG, has signed an agreement with Vietnam Oil and Gas Group (PetroVietnam) to acquire the latter’s 29 per cent stake in LSP. The transaction is expected to be completed by the end of June 2018.

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