Posco owns 94.93% in Thainox
Posco, the world's fourth largest steelmaker, succeeds with its takeover bid for Thainox Stainless Plc with the stake in the Thai company rises to 94.93 per cent after a tender offer.
The tender offer, launched on September 20 after the Korean company acquired approximately 60 per cent owned by Prayudh Mahagitsiri and his family, was completed.
In a statement to the Stock Exchange of Thailand, Posco said that of total 6.6 billion shares tendered shares, shareholders with 6.2 billion shares showed interest to sell their shares. Altogether, Posco now holds 7.4 billion shares or 94.93 per cent in Thainox.
