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Suitor Drawn to Thai Oil Co by Low Costs.
Byline: Yuthana Priwan
Oct. 3--High efficiency in oil refining and debt servicing of Thai Oil Co are the major factors that have drawn China National Chemicals Import and Export Corp (Sinochem) to buy a stake in it, says a source at the Energy Ministry.
China's major petroleum and chemical trading firm is looking to buy a 37 percent stake held by the creditors in Thai Oil.
Creditors and PTT Plc each currently hold 49.9 percent in the company. Sinochem, however, would like to buy only the 37 percent stake held by foreign creditors.
"Due diligence has been completed recently. The next step was for the Chinese firm to bargain with the ...
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