Kyoei Steel Ltd. (TSE:5440) concluded a share transfer contract to acquire an additional 45% stake in Viet Nam - Italy Steel Joint Stock Company (HOSE:VIS) from Thai Hung Trading Joint Stock Company for ¥5.4 billion on April 16, 2018. As per terms, 33.2 million shares will be acquired. Upon completion, Kyoei Steel Ltd. will hold 47.9 million shares in Viet Nam - Italy Steel Joint Stock Company.

The transaction has been resolved by the Board of Kyoei Steel Ltd. The transaction is expected to be completed by May 14, 2018.