Thailand’s SCG to divest partial stake in Indonesia’s Chandra Asri

Thailand’s leading industrial conglomerate, Siam Cement Public Company Limited (SCC), has announced plans to divest a portion of its shareholding in PT Chandra Asri Pacific Tbk (TPIA), Indonesia’s largest integrated petrochemical company, as part of a strategic capital restructuring.

According to an official filing with the Stock Exchange of Thailand (SET), SCC intends to offload a 10.57% stake in TPIA, reducing its overall interest in the Indonesian firm from 30.57% to 20%. The entire holding is currently managed through its wholly owned subsidiary, SCG Chemicals Public Company Limited (SCGC).

“This move aligns with SCGC’s efforts to reduce debt burden and reallocate capital in line with future business opportunities,” said SCC President and CEO in the statement. He added that the divestment forms part of a broader strategy to strengthen the group’s financial flexibility and optimise its investment portfolio.

While details regarding the transaction value have yet to be finalised, the planned sale marks a notable shift in SCG’s long-term commitment to the Southeast Asian petrochemical sector, particularly in Indonesia, where Chandra Asri has been pursuing aggressive expansion through acquisitions.

Market watchers are now closely monitoring who might step in to acquire the released shares and whether the move could signal further shifts in shareholder dynamics at TPIA, which is a key player in the regional olefins and polyolefins markets.

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