Friday, July 16, 2010

#Flash* Korea's Honam Petrochemical launches RM2.93b takeover of Titan Chemicals

KUALA LUMPUR: South Korea's Honam Petrochemical Corp has launched a takeover of TITAN CHEMICALS CORP. BHD []., to acquire remaining 72.32% stake or 1.249 billion shares for RM2.93b or RM2.35 a share.

Titan said on Friday, July 16 that its major shareholders Union Harvard Investments S.R.L, CGDC Investments Corporation, Permodalan Nasional Bhd, and AmanahRaya Trustees Bhd had signed agreements to sell their collective stakes to Honam.

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