Taiyo Nippon Sanso (TNSC) has successfully completed the acquistion of the Singaporean gas distributor Leeden after January’s take over bid was completed.
TNSC acquired a total of 170,607,865 shares that accounts for 95% of the entire amount available. The takeover bid was carried out at the price of 0.57 Singaporean dollars (S$) per share, equating to a cost of S$758m. Consequently Leeden has been removed from the stock exchange list.
Leeden was established in 1964 and has been engaged in the gas business handling mainly deals involving gas cylinders. The company has filling stations in Malaysia and Indonesia as well as in Singapore, and also has businesses operating bases in Indonesia, Thailand, Philippines, Vietnam, China and Australia.
TNSC now plans to expand its business in Thailand, Vietnam and the Philippines – as well as in Singapore and Malaysia.
Houston, Texas, based Thigpen Energy has selected Chart for the provision of LNG fueling equipment and supplies – with construction already underway. Earlier this week it was announced that the company’s eastern European outfit, Chart Ferox, was chosen to construct LNG filling station in Poland.
Month on month, the gasworld website is the market-leading news portal for the global industrial gas sector, growing at an unprecedented rate and keeping its readers at the forefront of breaking news, insightful analysis and must-see features across the industry. Launched in 2004 and continually evolving, it is the only independent online news, views and intelligence portal for the global industrial gas community and the larger end-user markets – and home to the ever-increasing range of gasworld platforms.
To find out more about gasworld's advertising opportunities click here.