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Siam Cement Group to take over Vietnamese building material giant

Siam Cement Group to take over Vietnamese building material giant, Siam Cement Group, SCG, Prime Group JSC, Asia packaging
VIETNAM –
Siam Cement Group (SCG) intends to seize full control of Prime Group JSC in Vietnam, a deal that would make the Thai conglomerate the largest floor tiles manufacturer in the world.

SCG, which already has a 85% stake in Prime Group that it purchased in December 2012 for US$240 million, has announced plans to acquire the remaining 15% stake for about US$60 million.

Acquiring Prime Group will help SCG become the world's largest floor tiles manufacturer, because Prime Group is the fifth manufacturer of floor tiles in the world and the biggest manufacturer of building materials in Vietnam with about 20% domestic market share.

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