Phan Vu Investment Corporation agreed to acquire 51% stake in FECON Mining Joint Stock Company from FECON Corporation for approximately VND 210 billion.

Phan Vu Investment Corporation agreed to acquire 51% stake in FECON Mining Joint Stock Company (HOSE:FCM) from FECON Corporation (HOSE:FCN) for approximately VND 210 billion on August 20, 2018. Under the transaction, Phan Vu Investment Corporation acquires 20.9 million shares at VND 10,000 per share. Post transfer, FECON Mining Joint Stock Company will become a subsidiary of Phan Vu Investment Corporation.

Phan Vu will carry out procedures to acquire shares from Fecon Corporation group after the resolution of FECON Mining extraordinary shareholders' meeting scheduled on September 10, 2018. The transaction has been resolved by the Board of Asia Pile Holdings Corporation (TSE:5288) parent of Phan Vu Investment Corporation.