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Thailand's Siam Cement Pcl interested in two petrochemical companies in Indonesia

August 31/2011

(Reuters) - Thailand's top industrial conglomerate, Siam Cement Pcl , confirmed on Tuesday it was interested in buying stakes in two petrochemical companies in Indonesia worth a combined estimated USD 1.1 billion.

Indonesian chemical producer Sulfindo Adiusaha is up for sale with an estimated price tag of USD 700 million and may draw interest from Siam Cement and South Korea's Hanwha Chemical Corp when first-round bids are due in late August, sources with knowledge of the deal said recently.

Separately, Singapore state investor Temasek Holdings is trying to sell its 23 percent stake in Indonesian petrochemicals maker Chandra Asri in a deal worth an estimated USD 400 million, two sources with direct knowledge of the deal told Reuters recently. Last week, Thailand's PTT group said it was keen to buy a stake in Chandra Asri.

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