Shin-Etsu Polymer's Singapore Unit to Acquire Prestige Dynamics Industries in Malaysia
MT Newswires Live
Sep 25
Shin-Etsu Polymer (TYO:7970) said that its unit, Shin-Etsu Polymer Singapore, will acquire all shares of Malaysia-based Prestige Dynamics Industries, making it its sub-subsidiary, according to a Tokyo bourse filing on Friday.
The chemicals company said that under the plan, its Singapore-based unit will acquire two million shares in Prestige Dynamics, representing 100% voting rights.
The execution of the share transfer deal is scheduled for Oct. 1, with completion planned for Dec. 31, and the transaction is aimed at enhancing the company's corporate value.
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