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PLMJ advised SCG Chemicals on the acquisition of a controlling stake in Sirplaste

05/05/2021
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PLMJ advised SCG Chemicals on the acquisition of a controlling stake in Sirplaste - Sociedade Industrial de Recuperados de Plástico, S.A.

The acquisition was made through SCG Singapore, a subsidiary of SCG Chemicals, Thailand, which is owned by The Siam Cement Public Company Limited. SCG Chemicals is one of the largest petrochemical companies in Asia and it has a leading position in the sector and a plan to expand into Europe.

Sirplaste is the largest Portuguese plastic recycling company with an annual capacity of 36,000 metric tons. It operates in Portugal and has a prominent presence in other European countries.

The investment in Sirplaste is an important step in SCG Chemicals' strategy to strengthen its position in the plastic recycling business. Its goal is to create new opportunities in developing and improving recycling technology, and to expand sales channels in the European market.

The completion of the transaction is subject to the fulfilment of certain conditions precedent and is expected to be completed by the end of 2021.

The transaction was led by the partner who co-heads the Corporate M&A practice, Diogo Perestrelo, and coordinated by Rita Albuquerque, managing associate of the Corporate M&A practice, with the assistance of the lawyers Pedro Gaspar Silva and Carolina Sá Duarte and of the trainee Mariana Guisado.

 

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