Petronas forays into specialty chemicals; buys Da Vinci

27 May '19

1 min read

Pic: Petronas

Petronas Chemicals Group Berhad (PCG), the leading integrated chemicals producer in Malaysia, has entered into an agreement to acquire 100 per cent of Da Vinci from its shareholders including, amongst others, funds managed by Bencis Capital Partner. Upon completion of the acquisition, Da Vinci will become a wholly-owned subsidiary of PCG.

Da Vinci Group BV is a private-limited liability company, incorporated in the Netherlands with a global operations involving own-brand reselling, formulating and manufacturing of silicones, lube oil additives and chemicals.

The acquisition is PCG’s first foray into specialty chemicals via inorganic growth. PCG had recently announced its next chapter of growth focusing on future strategic positioning venturing into derivatives and specialty chemicals.

“The acquisition is a strategic entry point for PCG’s specialty chemicals portfolio. The acquisition accelerates the realisation of PCG’s vision to create value by diversifying its product portfolio into differentiated and specialty chemicals,” said PCG chief executive officer Sazali Hamzah.

Upon completion, Da Vinci will become a wholly-owned subsidiary of PCG. (RKS)

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