AP Oil completes acquisition of shares in Heptalink Chemicals
Saturday, January 3 2015 - 01:01 AM WIB
SGX-listed lubricant producer AP Oil International Limited announced on Friday it had completed the acquisition of 60 percent of the issued and paid-up share capital in Heptalink Chemicals Pte. Ltd. from Aik Moh Paints & Chemicals Pte. Ltd. and PT. Sari Daya Plasindo.
The acquisition was completed on Jan. 1, 2015, the firm said.
In the previous statement, dated on Dec. 10, 2014, the firm said it proposed to acquire the shares for US$625,052.
The target firm, Heptalink Chemicals is an SGX-listed international trader of petrochemical and oil related products, mainly focussed on bulk trading of commodity chemicals. The company was formed by two corporate shareholders; Aik Moh Paints & Chemicals Pte Ltd and PT Sari Daya Plasindo (SDP) Indonesia in 2011
SDP produces Di-Octyl Phthalate (DOP) with a total capacity of 30,000 MT per year. SDP is part of the PT Sari Sarana Kimia (SSK) group, a major chemicals distributor in Indonesia.
Editing by Johannes Simbolon