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Business deals

Malaysia's Petronas in $2.4bn deal to buy Swedish chemical maker

Both companies see acquisition as opening new growth paths

Malaysia's Petronas Chemicals is buying Swedish chemical maker Perstorp Holding. (Source photos courtesy of Petronas Chemicals and screenshot from Perstorp Group YouTube page) 

KUALA LUMPUR -- Malaysia's Petronas Chemicals Group, a subsidiary of state energy firm Petroliam Nasional Berhad (Petronas), said on Tuesday it will acquire Swedish specialty chemicals maker Perstorp Holding in a deal worth 2.3 billion euros ($2.4 billion).

Petronas Chemicals said it signed a securities purchase agreement on Saturday to acquire all shares in Perstorp from European private equity firm Financière Forêt S.à.r.l for 1.54 billion euros in cash and take on Perstorp's existing debt of 762 million euros.

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