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Oji Holdings to acquire stake in Thai packaging firm

Japan's Oji Holdings is all set to acquire shares of Box Asia Group, a manufacturer of folding box and high grade corrugated carton box based in Thailand, as part of its expansion plans in the East Asian market.

The firm has entered into a share sale and purchase agreement with a shareholder holding 100% of all issued shares of Box Asia Group.

In a different transaction, Oji acquired 27% shares of S.PACK & Print , which is in the same industry with Box in Thailand, according to the company.

Oji already owns 23.33% stake in S.PACK that it bought in March 2011. With about 50% stake, Oji will henceforth execute Tender Offer as per the Securities and Exchange Act in Thailand.