Back to 2006 listChubu Electric, Toho Oil Merger Date Changes
November 28, 2006
Chubu Electric Power Co., Inc.
Chubu Electric Power Co., Inc. (short form: Chubu Electric; headquarters: Higashi-ku, Nagoya; President: Toshio Mita) announces that it has changed the date of its merger with 100% subsidiary Toho Oil Co., Ltd. (short form: Toho Oil; headquarters: Yahama, Owase City; President: Shiro Mizutani). A press release dated April 27, 2006, stated that the merger, with Chubu Electric as the surviving company, would be effective January 1, 2007.
1. Updated information
The planned merger has been postponed from January 1, 2007 to a date in the first half of FY2009.
2. Reason for change
Although Chubu Electric and Toho Oil have been making preparations for the merger, several issues will require more time to resolve. These include disposal of Toho Oil assets that Chubu Electric will not take over and the status of contracts that Toho Oil has concluded with third parties.
The date of the merger was changed to the first half of FY2009 after comprehensively considering the time needed to make adjustments in the future.
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