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Japan steel firm Kyoei to hike stake in Viet-Italy Steel JSC

Steel News - Published on Fri, 20 Jul 2018

Image Source: VietNam News
Vietnam News reported that Japanese steel firm Kyoei Steel has registered to purchase two million shares in Viet-Italy Steel JSC to increase its ownership to 70.42%. Kyoei now holds 50 million shares of the Vietnamese steel producer, or 67.7% of the firm’s capital. Transactions will be carried out between July 19 and August 16, 2018.

Kyoei became the strategic partner of VIS in late 2017 after buying more than 14.7 million shares, or 20% ownership, from previous shareholder of VIS – Thái H?ng Company.

In May 2018, the Japanese firm purchased another 33.2 million VIS shares from Thái H?ng Company and replaced the latter as the strategic investor of VIS with 65% ownership.

In early July, Kyoei completed he purchase of another two million VIS shares via put-through method to increase its stake in VIS to the current 67.7%.

Source :

Posted By : Ratan Singh on Fri, 20 Jul 2018
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