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Thai Olefins Eyes Bangkok Bank's Polyethylene Unit.
Byline: Yuthana Praiwan
Mar. 2--PTT Plc and its subsidiary Thai Olefins Plc (TOC) are negotiating to take over Bangkok Polyethylene Co (BPE) from Bangkok Bank and the Sophonpanich family.
An executive of PTT, who asked not to be named, said buy-out negotiations for a controlling interest in the producer of high-density polyethylene (HDPE) had not yet been finalised, but added that Bangkok Bank and the family, which holds a 40.23 percent stake in BPE, needed to sell off the petrochemical asset in order to concentrate their focus on banking sector concerns.
"There has been no conclusive decision yet regarding which entity will become the buyer, ...
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