Posted on 05 Apr 2022
Japan’s Nippon Steel has released the results of a tender for shares in Thailand’s G Steel Public Company and GJ Steel Public Company. The successful tender has left Nippon with a majority stake in both companies, Kallanish notes.
Nippon has already taken 49.99% of G Steel and 49.9% of GJ Steel as part of its previously announced acquisition plan. In accordance with the securities laws of Thailand, this triggered an automatic tender offer for the remaining shares in these companies. After the conclusion of the tender on 29 March, Nippon Steel was left with a 60.23% stake in G Steel and a 57.6% stake in GJ Steel, making it the outright majority shareholder in both companies.
The two integrated flat steel producers in Thailand have a 1.58 million tonnes/year and 1.5m t/y steel capacity respectively. Hot rolled steel sheets are their main finished product.
Source:Kallanish
