Thai industrial conglomerate Siam Cement will tender an offer for an Indonesian petrochemical company, Reuters reports. The company is seeking to buy PT Sulfindo Adiusaha, a chemical producer controlled by Indonesia’s Tanojo family.
South Korea’s Hanwha Chemical Corp may also place a bid for Sulfindo Adiusaha. Tanojo-controlled Victoria Group is looking to fetch about $700 million from the complete sale of Sulfindo Adiusaha.
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