UAC Global (SET:UAC) will sell its 30% stake in UAC Advance Polymer and Chemicals to ICAP-SIRA Asia for 62.5 million baht, under a call option agreement.

UAC Advance Polymer and Chemicals will cease to be an associated company of UAC, effective Sept. 1, following the disposal of 1.2 million shares.

UAC said the chemical business no longer aligns with its strategy amid economic weakness, market challenges and raw‑material cost volatility.

The company expects to recognize a 54.5 million baht loss on the disposal in its separate financial statements.