<article>Thai conglomerate Siam Cement Group (SCG) has entered into conditional agreements to acquire a 29 per cent stake in Indonesian home products retailer PT Catur Sentosa Adiprana Tbk (CSA) for 2,400 million baht ($72.1 million), said SCG in a statement today.</article>

Thai conglomerate Siam Cement Group (SCG) has entered into conditional agreements to acquire a 29 per cent stake in Indonesian home products retailer PT Catur Sentosa Adiprana Tbk (CSA) for 2,400 million baht ($72.1 million), said SCG in a statement today.
The acquisition will see SCG tapping into Indonesia-listed CSA&#8217;s two core businesses including modern retailing and distribution of home products under the brand of Mitra10.
CSA has 27 stores across Indonesia&#8217;s major cities and access to a network of over 30,000 building materials retailers worldwide. CSA&#8217;s consolidated sales stands at about 23,700 million baht ($712 million) of consolidated sales and its total assets is at 12,000 million baht ($360.5 million).
&#8220;Having a stake in CSA allows SCG to further execute its penetration into the high-growth and vast Indonesian market. Moreover, the investment will gain further synergy with SCG&#8217;s existing assets in Indonesia,&#8221; said SCG.
The transaction will be done via SCG&#8217;s wholly-owned subsidiary in its cement-building materials business, SCG Retail Holding Company Ltd, and is expected to be completed in the third quarter of this year.
According to SCG, the transaction size is 0.41 per cent of total assets stated in SCG&#8217;s consolidated financial statements as at March 31, 2018. After the transaction is combined with those in the past six months, the total size will be 4.84 per cent.
The Indonesian deal comes soon after SCG acquired a 29 per cent stake in Vietnam&#8217;s Long Son Petrochemicals for over <a href="https://www.dealstreetasia.com/stories/scg-vietnam-long-son-98725/">$90.2 million</a> in May this year.
The Thai conglomerate first expanded into Indonesia in 1995 with its trading and market research business, before it gradually expanded into PVC, ceramic tiles, and building materials business.
It now has more than 5,700 employees in Indonesia and total of 20 companies in various industries. Based on its website, excluding its home ground Thailand, Indonesia currently sits on the top spot in terms of total assets of 30,400 million Baht ($913.3 million) and account for about 55 per cent of SCG&#8217;s asset in Southeast Asia.
SCG is the oldest and largest cement and building materials company in Thailand. Besides cement and building materials, its other two core businesses are chemicals and packaging.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/scg-vietnam-long-son-98725/">Thailand’s SCG buys rest of Vietnam’s Long Son Petrochemicals for $90.2m</a>
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Siam Cement Group entered into conditional agreements to acquire 29% stake in Indonesian home products retailer PT Catur Sentosa Adiprana Tbk for $72.1 million.

Thailand: Siam Cement Group picks 29% in Indonesia's home products retailer CSA

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Thailand: Siam Cement Group picks 29% in Indonesia's home products retailer CSA

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