TCC Int’l gets 50% voting right in CHCGC
TCC International (TCCIH) (1136) and Chia Hsin Cement Greater China Holding (CHCGC) said Chia Hsin Pacific Limited (CHPL) has accepted the offer of the voluntary conditional securities exchange offer by Morgan Stanley on behalf of TCCIH to acquire all issued shares capital of CHCGC.
In respect of this, 814 million CHCGC Shares (71.22% issued share capital of CHCGC) was sold to TCCIH.
After the deal, TCCIH will hole more than 50% of the voting rights in CHCGC. TCCIH will then issue a separate announcement if it decides to waive Offer condition by virtue of it having received such acceptances from CHPL. (PL) Published under Cement News
