Taiyo Nippon Sanso (TNSC) has successfully completed the acquisition of the Singaporean listed gas distributor Leeden after the procedure of takeover bid since January 20 this year. The takeover bid ended on March 12 when TNSC acquired a total of 170 million and 607,865 shares which accounted for 95% of whole shares.

The takeover bid was carried out at the price of 0.57 Singaporean dollar (S$) per share costing S$758 million (equivalent to about 4.9 billion yen). Consequently Leeden has been removed from the stock exchange list.

The local gas dealer Leeden was established in 1964 and has been engaged in the gas business handling mainly gas cylinders in close relations to the regional requirements. Leeden has filling stations in Malaysia and Indonesia as well as in Singapore, and also has business operating bases in Indonesia, Thailand, Philippines, Vietnam, China and Australia. Affiliating Leeden, TNSC is going to expand its business in Thailand, Vietnam and the Philippines as well as in Singapore and Malaysia.