The Service of the Commission for the Protection of Competition announces that PTT Global Chemical Public Company Ltd through its subsidiary PTT GC International BV, notified the buyout of the 51% of the share capital of Perstop Holding France SAS.
PTT Global Chemical Public Company Ltd is a company registered on 19/10/2011 and was created with the merge of PTT Chemical Public Company Ltd and PTT Aromatics and Refining Company Ltd. PTT Global Chemical Public Company Ltd operates in the field of chemical production, provision of safety and the environment, maintenance and engineering and pipeline transport. It also sells healthy food products and develops specialized products. In addition the company is active in processing refined fragrance, oil processing and supply of refined oil and fragrance products. Global PTT Chemical Public Company Ltd is controlled by the PTT Public Company Ltd.
PTT GC International BV is a public company duly registered in accordance with the laws of the Netherlands set up on 16/12/2011 for the acquisition of 51% of the share capital of the Perstorp Holding France SAS. This company is subject to the control of the Global PTT Chemical Public Company Ltd by PTT Chemical International Pte Ltd. PTT Group of companies are not operating within the Cyprus Republic.
Perstorp Holding AB which owns the remaining 49% of the share capital of the company Perstorp Holding France SAS, is a company duly registered in accordance with the laws of Sweden. This company operates mainly in the supply of specific chemicals such as intermediate floor, performance chemicals, catalysts, formaldehyde plant technology, bio-fuels and kaprolaktonis monomers. Perstorp Holding AB is controlled by PAI Partmers, which is the company that manages private investors and advises private equity funds. This company also focuses on the industrial sector and is active as a short-term and long-term investor shareholder. The capital that PAI Partners manages and advises aim in obtaining significant or maximum participation in companies operating in various sectors of industry.
Perstop Holding France SAS, which is the target of this concentration is active in the production of isocynates and is the parent company for three other companies. This company operates within the Republic of Cyprus on the market of production and sale of HDI.