26 December 2013 16:03 [Source: ICIS news]
TOKYO (ICIS)--Japanese producer Mitsubishi Chemical has acquired all of the shares its partner Mitsubishi Corporation owns in joint venture Nippon Kasei Chemical, Mitsubishi Chemical said on Thursday.
Financial details were not disclosed.
Mitsubishi Chemical acquired a 12.14% share in Nippon Kasei from in order to strengthen ties with the chemical producer, the company said in a statement.
With the purchase, Mitsubishi Chemical’s stake in Nippon Kasei has increased to 64.96%, according to Mitsubishi Chemical.
Nippon Kasei produces inorganic and specialty chemicals.
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