Taiwan Cement Corp. agreed to acquire remaining 26.4% stake in Taiwan Prosperity Chemical Corporation for approximately TWD 630 million.

Taiwan Cement Corp. (TSEC:1101) agreed to acquire remaining 26.4% stake in Taiwan Prosperity Chemical Corporation (TSEC:4725) for approximately TWD 630 million on September 16, 2020. The consideration will be paid through share swap in cash and will be funded by own capital of Taiwan Cement Corp.

The transaction is expected to be completed on January 18, 2021. Ming-Yi Wu and Shen-Zi of Reanda M Y Wu & Co., CPAs acted as accountants for Taiwan Cement Corp. Tommy Chen, Raymond Wang, and Jean Kuo of Jones Day acted as legal advisors to Taiwan Cement.