Thai Union buys out Mitsubishi from shrimp farming JV

Thai Union is buying out Mitsubishi’s 49 percent stake in their shrimp farming and hatchery joint venture, TMAC, to take full control of the company.

In an announcement on Wednesday, Thai Union said it will acquire 49 percent of the shares of TMAC Co., Ltd. from Mitsubishi Corporation in March.

Thai Union already holds the majority 51 percent stake and after the transaction will be the sole owner.

The total share purchase price is THB 110 million (€3.1 million/$3.5 million).