Enso to take 19.9% stake in Advance Agro

Article Abstract:

Enso Oy of Finland is to acquire an interest of 19.9% in Advance Agro PLC of Thailand for C$80 million as a first step in forging a strategic alliance. The deal call for the forestry concern to provide long-fiber pulp to Advance Agro, then the firms will cooperate on research and development. Enso will also be named exclusive sales and marketing manager for the pulp and paper products worldwide of Advance Agro, including Thailand. The agreement is subject to the approval of the companies' respective boards of directors. A memorandum of understanding calls for Enso Oy to acquire 100.6 million new shares to be issued by Advance Agro as part of its multiyear, capital-raising plan.

Comment:

Is to acquire an interest of 19.9% in Advance Agro PLC for C$80 million as a first step in forging a strategic alliance

Woodpulp & Related Products, Pulp Mills, Thailand, Wood pulp industry, Enso Oy, Advance Agro PLC

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EVN says it has 10% stake in Verbund

Article Abstract:

EVN AG, a regional electricity distributor based in Austria, announced on Jul. 28, 1998, that the company now has a 10% interest in Verbundgesellschaft AG (Verbund), which is the biggest electricity generator and operator of the national grid in Austria. EVN's effort was a significant contribution in bolstering the utility industry in the country, according to EVN. Likewise, EVN's effort signifies that the regional electricity distributors of Austria now likely hold a consolidated stake of over 25% in Verbund, according to Hans Fruhmann, who is an analyst at CAIB Investment Bank, a subsidiary of Bank Austria in Vienna, Austria.

Comment:

Says on 7/28/98 that this co now has a 10% interest in Verbundgesellschaft AG of Austria

Austria, Electric Utilities, Electric Power Generation, Transmission and Distribution, Electric Power Distribution, Verbundgesellschaft AG, EVN AG

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Petronas aims to buy 27% stake in Proton

Article Abstract:

Petroliam Nasional Bhd. (Petronas) of Malaysia has offered an undisclosed amount to Hicom Holdings Bhd. for its 27%-shareholdings in Perusahaan Otomobil Nasional Bhd. (Proton), Malaysia's national car-maker. The new development was confirmed by Petronas' president, Hassan Merican, who added that an agreement could result in synergies in lubricant and engine research. Petronas' Merican also clarified that it is not considering the acquisition of shareholdings in either Edaran National Bhd. (EON) or Perusahaan Otomobil Kedua.

Comment:

Has offered an undisclosed amount to Hicom Holdings Bhd for its 27%-shareholdings in Perusahaan Otomobil Nasional Bhd

Crude Petroleum and Natural Gas Extraction, Motor Vehicles, Automobile and Light Duty Motor Vehicle Manufacturing, Crude Petroleum & Natural Gas, Malaysia, Petroleum industry, Natural gas, Petroleum, Gas industry, Petroliam Nasional Bhd., Hicom Holdings Bhd

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