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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

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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...

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