Holdings in the Thai petrochemical industry can be very complicated, as can be seen from a recent large buyout. In mid-August the PTT (Petroleum Authority of Thailand) owned, in conjunction with one of its subsidiaries NPC (National Petrochemical PLC), 45.95 of another subsidiary TOC (Thai Olefins PLC). A few days later the PTT, in conjunction with TOC, came to an agreement to take over BPE (Bangkok Polyethylene PLC), a firm which just happened to own 7.11 of TOC. So now 53.06 of TOC is destined to be held by the PTT and NPC while the PTT and TOC will soon own all of BPE for an outlay of Baht 3.4b (US$85m).
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