Covid-19 Delays Nippon Shokubai And Sanyo Chemical Merger
Japanese Nippon Shokubai and Sanyo Chemical Industries have recently declared in their board meeting to postpone their merger agreement and joint venture formation due to the pandemic. The companies have decided to review their economic, financial and business performance during the pandemic and then think about their share transfer ratios and other integration related plans. The JV was about to get established on 1 October 2020. However, the recent MOU signed between the two parties state that the establishment will now happen on 1 April 2021.