Brzeg Dolny, Poland — PCC Rokita is increasing its stake in IRPC, a polyol producer in Thailand, taking its stake to 50% of the company.
Rokita looks set to purchase 750,000 shares for about THB 57.7m ($1.8 m).
However, under the agreement, a Polish auditor will examine IRPC’s accounts and decide a fair price. If regulatory approval is granted, the deal is scheduled to complete on 30 April 2018.
The Polish company announced its interest in paying up to THB 80m to acquire a stake in the Bangkok-based IRPC Polyol in September 2017.
The two firms formed a joint venture, IRPC polyols, to sell and make polyols and polyurethane systems in 2015. At the time, the joint venture’s target markets were China, India and Southeast Asia.