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Styrenix Performance Materials unveils the decision to acquire the proposed acquisition of INEOS Styrolution (Thailand)
Recently, Styrenix Performance Materials has announced that its Board of Directors has approved the proposed acquisition of 100% of the shareholding of INEOS Styrolution (Thailand) Co., Ltd. (INEOS Thailand) from its current shareholders. The acquisition, which is subject to the completion of customary conditions precedent, is expected to enhance Styrenix's operational capacity and market presence in the growing Southeast Asian market. The approval was granted during a Board meeting held on 9 December 2024.
The acquisition will be executed through a step-down subsidiary of Styrenix Performance Materials, in line with the company's strategy to strengthen its position in key global markets. INEOS Styrolution (Thailand) Co., Ltd., a subsidiary of INEOS Styrolution Group GmbH, is a prominent player in the production and supply of styrenic resins and polymers in the region. The acquisition will involve the full purchase of shares held by the existing stakeholders, including:
- INEOS Styrolution Group GmbH (INEOS Germany) is the parent company of the INEOS Styrolution Group.
- INEOS Styrolution APAC Pte. (INEOS APAC)
- INEOS Styrolution Hong Kong Company
(INEOS Styrolution APAC Pte. and INEOS Styrolution Hong Kong Company are regional entities of INEOS Styrolution, responsible for overseeing operations in the Asia-Pacific region and Hong Kong, respectively.)
The transaction is being conducted under a Share Sale and Purchase Agreement (SPA) that has been formally executed between Styrenix Performance Materials and INEOS Germany, the parent company of INEOS Styrolution, on the same day, 9 December 2024.
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