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NSL to sell Thai unit for $328.3m

Sale will result in accounting gain of $119.8m

Published Mon, Nov 18, 2013 · 10:00 PM

NSL CHEMICALS, a wholly owned subsidiary of NSL Ltd, has agreed to sell its entire 100 per cent stake in NSL Chemicals (Thailand) Ltd (NSCT) to SCG Chemicals Ltd for $328.3 million.

Investment holding company NSL Chemicals owns a stake of 22.83 per cent stake in Bangkok Synthetics Ltd (BST).

Based on the sale price and NSL Group's carrying value of NSCT as at Sept 30, 2013, the proposed sale will result in an estimated accounting gain of $119.8 million for NSL.

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