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Chiyoda Acquired Shares of Toyo-Thai Corporation PCL

Source: www.gulfoilandgas.com 12/14/2010, Location: Asia

Chiyoda Corporation, Japan's leading engineering and construction firm, announces that Chiyoda acquired 7% of the total issued shares of Toyo-Thai Corporation Public Company Limited registered on the Stock Exchange of Thailand.

1. Purpose of Transaction:

Through this transaction, Chiyoda intends to facilitate cooperation with Toyo-Thai Corporation Public Company Limited and to further strengthen global operation which is one of the key concepts of Chiyoda's mid-term management plan.

Thailand 2. Information on Stock Transaction

(1) Transaction Date : December 13, 2010

(2) Purchase source of the stock : Italian-Thai Development Public Company Limited

(3) Number of Shares : 33,600,000
(equivalent to 7% of the totalissued stocks of Toyo-Thai Corporation Public Company Limited)

(4) Price of Stock Purchased: Not disclosed

3. Purpose of Stock Holding and Cooperation

- Engineering, Procurement and Construction (EPC) satellite for small-middle sized projects especially in Thailand and Indochina region
- Support to enhance Chiyoda's business development in the region
- Support for Chiyoda's project execution

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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