Nippon becomes largest stockholder of PT Latinusa
Saturday, 14 Nov 2009
Metal iz reported that Japan's Nippon Steel and other three companies jointly bought 55% stock of Indonesia's tin producer PT Latinusa with the total trade amount of around USD 60 million.
Seeing the tin demand rapidly increases driven up by the foodstuff and drinks' packaging industry, Nippon joined the hand with Mitsui, Nippon Trade Company and Metal One to complete the transnational acquisition.
Hence, Nippon becomes Latinusa's biggest stockholder owning 35% of shares. Additionally, Mitsui holds 10% of shares and Nippon Trade and Metal One hold 5% of shares, respectively.
(Sourced from MetalBiz)
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