13 · Sep · 2019
PCG Completes Acquisition of Da Vinci Group B.V.
The acquisition marks PCG’s entry into specialty chemicals and diversify business portfolio in future proofing of the business
Kuala Lumpur, 13 September- PETRONAS Chemicals Group Berhad (PCG) has completed the acquisition of Da Vinci Group B.V. (Da Vinci), widely known as BRB, after fulfilling the conditions required in the Share Purchase Agreement to complete the acquisition of 100% of the shares in Da Vinci.
With the completion of the acquisition, Da Vinci has become PCG’s wholly-owned subsidiary with immediate effect. This acquisition marks PCG’s first foray into specialty chemicals.
Da Vinci Group B.V. is a private limited liability company, incorporated in the Netherlands with global operations involving own-brand reselling, formulating and manufacturing of silicones, lube oil additives and chemicals.
Commenting on the acquisition, PCG Managing Director/Chief Executive Officer, Datuk Sazali Hamzah said: “I am pleased that we have completed the acquisition of Da Vinci. It provides a compelling entry point for PCG to grow into silicones business and enhance its competitive position in attractive end-markets such as personal care, construction, paints and coatings, electronics, automotive and healthcare, particularly in the Asia Pacific region.”
“Venturing into specialty chemicals beyond existing assets allows us to diversify our product portfolio and future-proof our business”, he concluded.
