BRB to be acquired by Petronas Chemicals Group
Petronas Chemicals Group Berhad (PCG) has entered into a Sale and Purchase Agreement on May 16th, 2019 to acquire 100% of Da Vinci Group BV, holding company of BRB International BV (BRB).
The acquisition is PCG’s first step into specialty chemicals via inorganic growth. PCG has recently announced its next chapter of growth focusing on future strategic positioning venturing into derivatives and specialty chemicals.
Strategic entry point
“The acquisition is a strategic entry point for PCG’s specialties chemicals portfolio,” Said PCG Managing Director and Chief Executive Officer Datuk Sazali Hamzah, “it accelerates the realisation of PCG’s vision to create value by diversifying its product portfolio into differentiated and specialty chemicals.”
“BRB provides a compelling access into growing silicones business. The acquisition enables PCG to enhance its competitive position in attractive end-markets such as personal care, construction, paints & coatings, electronics, automotive and healthcare, particularly in the Asia Pacific region.” he added.
