Petronas Chemicals Group
Berhad (PCG) on May 16 entered into a Sale and Purchase Agreement to acquire 100 percent of Da Vinci Group BV, a holding company of BRB International BV.
The acquisition is PCG’s first step into specialty chemicals via inorganic growth. PCG has recently announced its next chapter of growth focusing on future strategic positioning venturing into derivatives and specialty chemicals.
“The acquisition...accelerates the realization of PCG’s vision to create value by diversifying its product portfolio into differentiated and specialty chemicals," PCG Managing Director and CEO Datuk Sazali Hamzah said.
“BRB provides compelling access into growing silicones business," he continued. "The acquisition enables PCG to enhance its competitive position in attractive end-markets such as personal care, construction, paints & coatings, electronics, automotive and healthcare, particularly in the Asia Pacific region.”
Upon completion of the Sales and Purchase Agreement, BRB International BV will become a wholly-owned subsidiary of PCG.