LONDON, July 12 (Reuters Breakingviews) - Thailand’s PTT Global Chemical (PTTGC.BK) is shelling out a premium to muscle into the sustainable industrial coatings market. The $7 billion company, 45% owned by Bangkok-based energy major PTT (PTT.BK) is paying Advent International 4 billion euros for control of the private equity giant’s allnex resins outfit. At more than 12 times last year’s EBITDA, it’s on the pricey side relative to similar deals. The German company’s expertise in making environmentally friendly coatings fits well with PTT Global Chemical’s desire to reduce its reliance on petroleum by-products. From its Bangkok base, PTT also has better access to fast-growing Asian markets. And a $2.3 billion loan from its parent means shareholders won’t have to cough up directly. That’s a blessing given the chunky price, which knocked 6% off PTT Global Chemical’s shares. German chemicals specialist Covestro (1COV.DE) paid 12 times trailing EBITDA for DSM’s (DSMN.AS) resins business last year but Jefferies analysts reckon it will be able to extract more cost savings. (By Ed Cropley) On Twitter http://twitter.com/breakingviews Capital Calls - More concise insights on global finance: ASOS takes dowdy route to the U.S. fashion read more Even Goldman can’t fight the tide on pay read more Smiths Group breakup saga may end with a whimper read more Atos profit warning may tempt bottom-feeders read more Wesfarmers takes M&A temperature read more