Titan Takes Over PT Fatrapolindo; Will Strengthen Indonesian Stand

摘要

Kuala Lumpur-Titan Chemicals has completed the reverse takeover of PT Fatrapolindo Nusa Industri Tbk and renamed the business PT Titan Kimia Nusantara (PCN, 11 Nov 07, p 2). Late last year, Titan said its wholly-owned subsidiary Titan International would pay Rp345/share for up to 5,156.2-million new shares of Fatrapolindo. At the same time, subsidiary Titan Petchem would sell its 100% equity interest in Chemical Brothers Ltd. to Fatra International Holding for a total consideration of $188.4-million.