You are here

Local SME Tee Hai Chem sells 51% stake to German MNC, teams up to go global

The firm hopes to accelerate growth by tapping Brenntag's global network to further expand its reach

BT_20190315__VITEEHAI15_3724539.jpg
From left: Mr Han, Mr Magnus and Mr Nejade at the signing ceremony on Thursday. The family behind Tee Hai will now be minority shareholders.

Singapore

SPECIALITY chemicals distributor Tee Hai Chem on Thursday sold a 51 per cent stake to German chemical distribution giant Brenntag for a sum estimated to be S$200-300 million.

Following the transaction, the family behind Tee Hai Chem, which include executive director Han

sentifi.com

Market voices on: