Sojitz Corporation (TSE:2768) and ISTS (Thailand) Co made an offer to acquire remaining 16.541554461% stake in Thai Central Chemical Public Company Limited (SET:TCCC) from the group of the sellers for THB 3.9 billion on February 7, 2023. As per the terms, the offer price per share is THB 40 for 96,720,796 shares. Transaction is subject to Shareholders, regulatory, endorsement of the independent directors, and the appointment of independent financial advisor.

As of May 25, 2023 Thai Central Chemical Public Company Limited and Sojitz Corporation (TSE:2768) shareholders approved the transaction. Transaction is expected to close on August 2, 2023.Jay Capital Advisory Limited acted as a independent financial advisor and provided the fairness opinion to TCCC, Kiatnakin Phatra Securities Public Company Limited acted as a financial advisor to Sojitz Corporation (TSE:2768) and ISTS (Thailand) Co. As of April 12, 2023, Jay Capital Advisory Limited declared the offer fair and reasonable.