February 26, 2013 / 11:32 AM / 5 years ago

BASF to renew efforts to strike JV deals in Asia

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)

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