Keppel poised to buy chemical company Ixom

Keppel Infrastructure is closing in on a deal to acquire Ixom, the Australian chemicals company controlled by Blackstone, reports Bloomberg.

Ixom is strong in Australia and New Zealand, and is growing in Asia and the Americas

Ixom is strong in Australia and New Zealand, and is growing in Asia and the Americas

The chemicals supplier could fetch more than $1 billion, and such a purchase would expand Keppel’s business outside Singapore.

Ixom supplies a range of chemicals across markets including water treatment. It was renamed from Orica following its acquisition by Blackstone for $536 million in 2015.

Keppel is constructing Singapore’s fourth desalination plant, Marina East Desalination Plant, to complete by 2020, and has a 25-year supply contract on the facility.


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