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Group Lease and Wedge HD to form a new syndicate
Wedge Holdings (Wedge HD), a member company of Asia Partnership Fund (APF) Group, announced on July 24, 2009 that Group Lease (GL), also a member company of APF Group listed on the Stock Exchange of Thailand, would become its consolidated subsidiary.
Due to Wedge HD Group's accumulation of GL's stocks, its stake exceeded 50% at the end of June and thus followed the announcement. So far GL has been growing rapidly in Thai stock market. Through joining Wedge HD Group, a company listed on Osaka Securities Exchange, GL is expected to be favorably received not only in Thai stock market but also in Japan stock market as well. With the consolidation of GL, Wedge HD's annual revenue will double and the assets will quadruple--a large increase in scale of operations.
The formation of strategic business syndicate between two listed companies--one in Thailand, one in Japan--to connect Thai and Japanese markets is highly unique. GL and Wedge HD will continue to deepen cooperation and expand business more closely together in order to promote further growth.
For more information, please see Wedge HD's press release below. (Japanese)
http://www.wedge-hd.com/cms/assets/files/IR/NEWS/2009/i20090724_01.pdf
Due to Wedge HD Group's accumulation of GL's stocks, its stake exceeded 50% at the end of June and thus followed the announcement. So far GL has been growing rapidly in Thai stock market. Through joining Wedge HD Group, a company listed on Osaka Securities Exchange, GL is expected to be favorably received not only in Thai stock market but also in Japan stock market as well. With the consolidation of GL, Wedge HD's annual revenue will double and the assets will quadruple--a large increase in scale of operations.
The formation of strategic business syndicate between two listed companies--one in Thailand, one in Japan--to connect Thai and Japanese markets is highly unique. GL and Wedge HD will continue to deepen cooperation and expand business more closely together in order to promote further growth.
For more information, please see Wedge HD's press release below. (Japanese)
http://www.wedge-hd.com/cms/assets/files/IR/NEWS/2009/i20090724_01.pdf
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