BASF to renew efforts to strike JV deals in Asia

LUDWIGSHAFEN, Germany Tue Feb 26, 2013 6:31am EST

Related Topics

LUDWIGSHAFEN, Germany Feb 26 (Reuters) - German chemicals company BASF said on Tuesday it would seek to strike more joint venture deals in Asia after a major project in Malaysia fell apart.

BASF in January failed to agree on terms with Malaysian state-owned oil and gas firm Petronas over an extension of their partnership to a second specialty chemicals plant.

This posed a challenge because BASF has said that takeovers targets in Asia, where it aims to grow 8 percent per year through 2020, were difficult to find. (Reporting by Frank Siebelt)