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Thai Oil, PTT Set to Hold Talks with Mitsubishi.
Byline: Yauthana Praiwan
May 3--Thai Oil Co and PTT Plc plan to negotiate possible share swaps with Japanese partner Mitsubishi Oil Corporation in two affiliated companies in a bid to help solve financial problems.
The companies are Thai Paraxylene Co, owned 17 percent by Thai Oil, 34 percent by PTT and 49 percent by Mitsubishi Oil; and Thai Lube Base, owned 23 percent by Thai Oil, 45 percent by PTT, 22 percent by Mitsubishi Oil Corporation Holding (Thailand), and 5 percent each by British Petroleum and small investors.
PTT and creditors each hold 49.99 percent in Thaioil with the remaining 0.02 percent held by the Crown Property Bureau.
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Source: HighBeam Research, Thai Oil, PTT Set to Hold Talks with Mitsubishi.