Thailand-based olefins maker, PTT Chemical Pcl, has said it would buy a 50% stake in polylactic acid (PLA) manufacturer NatureWorks LLC, in a deal worth $150 million.

PTT Chemical’s investment in NatureWorks, until now wholly owned by US-based agribusiness giant Cargill Inc, is subject to regulatory approval. PTTGC International (USA) Inc, 100% owned by PTT Chemical International Private Ltd, itself a wholly owned subsidiary of PTTCH, will take the stake.

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