TOKYO (dpa-AFX) - Mitsubishi Corporation (MBC.L, MSBHY.PK) announced that it plans to acquire an additional 13.81% of Thai Union Group Public Company Limited's total issued shares (excluding treasury shares) through a general offer. The proposed offer price is 12.5 Thai Baht per share. This would increase its stake to 20% from 6.19%.
Upon completion of the general offer, Thai Union will become an equity-method affiliate of Mitsubishi Corporation.
Mitsubishi noted that Thai Union is a leading global seafood processor and distributor, recognized for its strong market position in canned tuna and tuna-based wet pet food.
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