Indonesia’s Sulfindo Adiusaha may draw bids from foreign investors, including Thai industrial conglomerate Siam Cement, Reuters reports. The Indonesian chemical producer’s owners are seeking to sell the entire company for $700 million. South Korea’s Hanwha Chemical may also place its bid for the company. The first round of bids is due by the end of August. The Victoria Group-owned firm previously intended to sell only up to 40% stake. Macquarie is advising Sulfindo on the transaction.
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