Asia
China Petrochemical Development Extends Completion Date to Buy 60% Stake in Kaohsiung Monomer
China Petrochemical Development (TPE:1314) has extended the scheduled completion date for its acquisition of a 60% equity interest in Kaohsiung Monomer from Lucite International Alpha, according to a Friday filing to the Taiwan stock exchange.Lucite International Alpha is a unit of Mitsubishi Chemical Group (TYO:4188).The transaction was originally scheduled to close Aug. 3, subject to regulatory approvals and other administrative procedures; however, the completion date has been extended to Feb. 26, 2027,The company said the delay was due to ongoing government regulatory approval procedures and administrative operations.The adjustment is not expected to have any financial or operational impact on the company.
TPE:1314TYO:4188
