BRB to be Acquired by Petronas Chemicals Group Bhd
June 3, 2019
Petronas Chemicals Group Berhad (PCG) has entered into a Sale and Purchase Agreement to acquire 100 percent of Da Vinci Group BV, holding company of BRB International BV (BRB). The acquisition is PCG’s first step into specialty chemicals via inorganic growth, the company reported. “It accelerates the realization of PCG’s vision to create value by diversifying its product portfolio into differentiated and specialty chemicals,” said PCG managing director and chief executive officer, Datuk Sazali Hamzah.
According to PCG, the acquisition enables the company 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.