Japanese giant wants to buy shares of Thien Long

Thien Long Group Joint Stock Company (Trading code: TLG) has just announced that Thien Long An Thinh Investment Joint Stock Company (TLAT), the largest shareholder owning 46.82% of charter capital of Thien Long Group Joint Stock Company, is negotiating to sell shares to KOKUYO Group (Japan).

Currently, both parties are in the process of negotiating, agreeing and signing a transaction to transfer all shares of TLAT to KOKUYO Group. The value of this transaction is not disclosed, however, when the transaction is completed, KOKUYO, Japan's leading enterprise in the field of stationery and office furniture, will become the largest shareholder of Thien Long Group Joint Stock Company.

Thien Long is the leading stationery brand in Vietnam.

In addition to this negotiation process, according to information provided by the TLAT Board of Directors, KOKUYO Group plans to make a public offering to purchase 18.19% of TLG shares in accordance with Vietnamese law, aiming to own up to 65.01% of TLG's charter capital.

This information has also been sent by Thien Long to its staff, employees and investors. According to Thien Long's affirmation, at this stage, the above developments do not directly affect the Company's daily production and business activities.

“All departments continue to operate normally and stably. During this period, we continue to focus on ensuring product quality, service standards and operational efficiency - the foundations that have built Thien Long's position in the stationery industry for nearly 45 years,” Thien Long's announcement stated.

Also according to Thien Long's announcement, information related to the expected transaction depends on the next steps between the parties and will be carefully received and updated by the Company, based on official announcements from the major shareholder - TLAT.

“In addition to maintaining stability in operations, the Company believes and expects that the participation of a prestigious international partner from Japan, KOKUYO, will help Thien Long expand its cooperation space in the fields of research, design, and product enhancement at home and abroad, in line with Thien Long's global strategic orientation of 'Glocalization',” Thien Long's announcement emphasized.

For employees, customers and partners, Thien Long affirms that all operations will continue to operate stably and normally as planned, with no major changes in personnel or policies during the current period.

Thien Long factory.

KOKUYO is one of the corporations with a history of more than 100 years, having a solid position in the world market in the field of stationery and business solutions.

In Vietnam, KOKUYO currently owns stationery products under the Campus brand. KOKUYO is also the partner that Thien Long has cooperated with to carry out contracts for processing products according to requirements and designs in the past.

Meanwhile, established in 1981, Thien Long is the leading stationery brand in Vietnam with more than 1,000 products under the brands Thien Long, FlexOffice, Colokit and Flexio. The company manufactures and exports products to more than 74 countries.

If the deal is successful, Thien Long will "change owners". KOKUYO will be the largest shareholder of this group.

Source: https://baodautu.vn/ong-lon-nhat-ban-muon-mua-co-phan-cua-thien-long-d451388.html