JG Summit acquires 17.7% stake of Marubeni Corp. in JG Summit Petrochemical Corp.

JG Summit Holdings Inc., the holding firm of the Gokongwei group, has regained 100% ownership of its subsidiary JG Summit Petrochemical Corp. This has been possible with the acquisition of 17.7% stake held by Japanese conglomerate Marubeni Corp. in JG Summit Petrochemical Corp. The company is a core subsidiary of JG Summit, which also has interests in property development, hotel management, textiles, banking and financial services, telecommunications, air transportation and power generation.
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