Hanhwa Chemical to bid for Indonesia's Sulfindo -source

outh Korea's Hanwha Chemical will join the first round of bidding for Indonesian chemical producer Sulfindo Adiusaha, a source familiar with the matter said, in a potential $700 million deal.

The first-round of bids for Sulfindo are due before the end of this week, with the deal attracting foreign players including Thai industrial conglomerate Siam Cement .
"Hanwha will make a non-binding offer," the source told Reuters, declining to be named because of the sensitivity of the issue.

A Hanwha spokesman said the chemical firm was still looking into the issue but would not comment further.

Sulfindo is controlled by the Victoria Group, owned by Indonesia's Tanojo family, who also own small lender Bank Victoria and brokerage Victoria Securities. Macquarie is the sell-side adviser for the deal, three sources told Reuters earlier. Source: Reuters