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SUMITOMO CORP announces establishment of joint venture in Singapore via third-party capital allocation with KDDI Corp


Wednesday, 16 Jul 2014 04:00am EDT 

SUMITOMO CORP:Says to establish joint venture in Singapore via third-party capital allocation with KDDI Corp, by invest in KDDI Corp's wholly owned Singapore-based subsidiary KDDI SUMMIT GLOBAL SINGAPORE PTE. LTD.Says after third-party capital allocation, KDDI and SUMITOMO will hold a 50.1 pct stake and a 49.9 pct stake in KDDI SUMMIT GLOBAL SINGAPORE PTE. LTD respectively.Says this joint venture KDDI SUMMIT GLOBAL SINGAPORE PTE. LTD to establish 99.9 pct owned subsidiary in Myanmar, KDDI's Myanmar-based wholly owned subsidiary KDDI Myanmar Co. to hold one share.Says to start business around August. 

Company Quote

7687.0
196.0 +2.62%
1:00am EST