Titan Chemicals which is one of major petrochemical players in Malaysia has agreed to sell its stake to Honam Petrochemical, a Korean petrochemical player. The deal is said to be all in cash term amounting to 1.5 trillion won or $ 1.26 billion.
Upon completion of the deal, Honam Petrochemical will have total control and sole owner of Titan Chemicals. Titan Chemicals has previously been in financial difficulties and was looking for exit. The deal is widely expected following their current finance standings.
Upon completion of the deal, Honam Petrochemical will have total control and sole owner of Titan Chemicals. Titan Chemicals has previously been in financial difficulties and was looking for exit. The deal is widely expected following their current finance standings.
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