Sugar firms merge

Saturday, Oct 25, 2014 12:42

Sugar companies are to be merged. – VNS Photo

HA NOI (Biz Hub) — Thanh Thanh Cong Tay Ninh Sugar Company will issue an additional 37 million shares for swapping with shares of Gia Lai Cane Sugar Thermoelectricity Jsc (SEC).

The swap will be done at a ratio of 1-1. Afterwards, the company, listed on the HCM City Stock Exchange as STB, will hold 100 per cent of SEC's charter capital. SBT said that in merging SEC with SBT, the company aimed to comply with the Law on Competition. — VNS

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