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SUMITOMO CORP and Nissin Sugar Holdings Co Ltd to Invest in Thailand Sugar Company-Nikkei Digital Media Inc.

Monday, 16 Sep 2013 08:00pm EDT 

Nikkei Digital Media Inc. reported that Sumitomo Corp. will join hands with Nissin Sugar Mfg. Co. to purchase a stake in Thailand's sugar manufacturer and seller. The two companies' investment in Kaset Thai International Sugar Corp. is expected to total approximate BHT 2.6 billion, or around JPY 8.1 billion. Sumitomo will hold a 25% interest in its holding company, and the Nissin Sugar Holdings Co. unit will have 5% stake. They have agreed to invest in the Thailand company as early as October 2013.