PETRONAS Chemicals Group Berhad (KLSE:PCHEM) entered into an agreement to acquire Da Vinci Group B.V. from the funds managed by Bencis Capital Partners B.V. and other shareholders for approximately €160 million on May 15, 2019. The consideration will be paid in cash and is subject to customary completion adjustments. Upon completion, Da Vinci Group will become a wholly owned subsidiary of PETRONAS Chemicals. The transaction is not subject to approval of the shareholders of PETRONAS Chemicals. The transaction is not expected to have any material effect on the earnings, net assets or gearing of PETRONAS Chemicals for the year ending December 31, 2019. Standard Chartered Bank Malaysia Berhad acted as financial advisor for PETRONAS Chemicals. Ton Schutte, Sophie Dijkmans and Alex Cull of Jones Day acted as legal advisor to Petronas Chemicals Group Bhd. Lincoln International acted as financial advisor to Bencis Capital. Marnix de Planque and Joyce Joyce of Allen & Overy Amsterdam acted as legal advisors to Bencis Capital Partners. PETRONAS Chemicals Group Berhad (KLSE:PCHEM) completed the acquisition of Da Vinci Group B.V. from the funds managed by Bencis Capital Partners B.V. and other shareholders on September 13, 2019. All the conditions required for completion of the acquisition pursuant to the agreement were fulfilled as of September 12, 2019.