date:Dec 19, 2012
Thai Union Frozen Products has agreed to form a joint venture with Mitsubishi Corp. to establish a shrimp farming business, Thai Union said in a statement this week.
The companys board of directors met on 17 December to approve the deal, which will have a shareholding structure of 51-49 percent, with Thai Union holding the majority.
The deal will involve incorporating TMAC Co. as a holding company to operate the new business. TMAC will function as a subsidiary of Thai Union.
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