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PTT to buy a stake in Indonesian petrochemicals maker PT Chandra Asri

August 29/2011

(Reuters) -- Thailand's top energy firm, PTT Pcl , is keen to buy a stake in Indonesian petrochemicals maker PT Chandra Asri as part of its foreign expansion drive, a source at the Energy Ministry said on Friday.


"PTT group has shown interest and is studying the possibility of buying the stake in the Indonesian petrochemical firm from Temasek," the source told Reuters.


"This should be the starting point for PTT to expand into the petrochemical business in Indonesia," he said, adding PTT group was not yet in talks with the seller and had not mandated any financial adviser for the moment.


Singapore state investor Temasek Holdings is trying to sell its 23 percent stake in the Indonesian petrochemicals maker in a deal worth USD 400 million, two sources with direct knowledge of the deal told Reuters recently.


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