Meiji Shipping Group Co.,Ltd. [9115.T]
TOKYO, Apr 16 (Pulse News Wire) – Meiji Shipping Group CO.,LTD. (9115.T) announced today that its subsidiary, Meiji Shipping Pte.
Ltd., based in Republic of Singapore, has decided to acquire two liquefied petroleum gas (LPG) carriers equipped with dual-fuel engines. The acquisition aims to strengthen the company's operational foundation through fleet expansion. Details of the transaction include: - Acquisition cost: Not disclosed due to contractual restrictions but deemed fair and reasonable considering market value. - Expected completion: October to December 2027. - Counterparty: MOL ENERGIA PTE. LTD., which could potentially become a subsidiary of MOL ENERGIA PTE.
LTD. The counterparty was established in October 2006 and is primarily engaged in shipping operations. Major shareholder: Mitsui O.S.K. Lines, Ltd. (9104.T). This acquisition exceeds the threshold requiring disclosure, representing more than Meiji Shipping Group’s consolidated net assets amounting to 30%.
The company stated that while the impact on the current fiscal year is expected to be minor, any significant effects on performance will be promptly disclosed.
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