KUALA LUMPUR, May 18 (Bernama) — PETRONAS Chemicals Group Berhad (PCG) signed a Securities Purchase Agreement on 14 May 2022 to acquire the entire equity interest in Perstorp Holding AB, a leading sustainability-driven global specialty chemicals company with Financière Forêt S.à.r.l, a company under PAI Partners, a European private equity firm. The acquisition values Perstorp Group at an enterprise value of EUR2,300.0 million, which is equivalent to RM10,496.1 million.
PCG’s journey to achieve its vision of becoming the preferred chemical company providing innovative customer solutions is based on a clear strategy; to strengthen its basic petrochemicals portfolio, and to selectively diversify into derivatives, specialty chemicals and solutions. In the execution of this strategy, this acquisition marks the creation of a significant specialty chemicals portfolio, while enhancing PCG’s overall earnings. This follows the acquisition of BRB Group in 2019, a leading global independent producer and formulator of silicones, lube oil additives and chemicals, which launched PCG into new areas aligned with its long-term growth ambitions.
