Hitachi Chemical Company, Ltd. made an offer to acquire additional 10.83% stake in Hitachi Chemical Storage Battery (Thailand) Public Company Limited (SET:BAT-3K) from other shareholders for approximately THB 570 million on June 17, 2020. In a related transaction, Hitachi Chemical Storage Battery (Thailand) Public Company Limited intends to acquire Hitachi Chemical Gateway Battery (Thailand) Company Limited from Hitachi Chemical Company, Ltd. on May 8, 2020. Under the terms, Hitachi Chemical Company, Ltd will acquire 2,165,202 shares for THB 265 per share from other shareholders.

These shares are being acquired for disapproving the amalgamation of Hitachi Chemical Storage Battery (Thailand) Public Company Limited and Hitachi Chemical Gateway Battery (Thailand) Company Limited. The shares will be offered for sale from June 18, 2020 until July 3, 2020. Thanachart Securities Public Company Limited acted as purchase offer agent to the transaction.

As of July 7, 2020, shareholders of 2,165,199 shares have offered their shares for sale. The transaction is expected to close on July 10, 2020