Tokyo: Leading international law firm Clifford Chance has advised Asahi Glass Co., Ltd. and Mitsubishi Corporation on their acquisition of a majority stake in a Vietnamese polyvinyl chloride (PVC) company, Phu My Plastics & Chemicals Co., Ltd, from PETRONAS Chemicals Group Berhad. Asahi Glass and Mitsubishi Corporation will together acquire all of PETRONAS’ current 93.11% stake in the company. The deal signed on 6 November 2013.
Corporate partner Andrew Whan, who led the deal said, “We are delighted to have assisted Asahi Glass and Mitsubishi Corporation on this strategic investment, which is an important transaction for both our clients. For Asahi Glass, this is an important milestone in their strategic focus on business expansion in South East Asia.”
Andrew was assisted by senior associate Natsuko Sugihara.
Asahi Glass Company is one of the largest suppliers of chlor-alkali products in South East Asia, operating integrated production facilities from caustic soda and chlorine to PVC.