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Hitachi buys Thai lead acid maker

Wed, 08/02/2017 - 10:24 -- News Editor
Hitachi buys Thai lead acid maker

Hitachi Chemical Co., Ltd. is set to acquire a 43.9% stake in Thai Storage Battery (TSB), through a negotiated transaction with the Korphaibool Family, the founder and major shareholder of TSB.

After completing the acquisition, the Hitachi Chemical Group plans to acquire the remaining stake by launching a mandatory tender offer (MTO) of 275 Thai baht ($8.26) per share, without setting an upper limit on the planned number of shares to be purchased.


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