Kyuden International Corporation agreed to acquire 25% stake in Petrogreen Energy Corp from PetroEnergy Resources Corporation (PSE:PERC) on September 15, 2022. The total acquisition is for 25% equity stake in the form of Share Subscription Agreement and Shareholders Agreement. PetroGreen Energy Corporation will issue primary shares in favor of KIC equal to 25% equity stake in PGEC. The transaction has been approved by PetroEnergy Resources Corporation board of directors. Ozaki Tsuneyasu, Ito Maya, Takaki Kengo and Nishitani Kazumi of Nishimura & Asahi acted as legal advisor to Kyuden International Corporation.

Kyuden International Corporation completed the acquisition of a 25% stake in PetroGreen Energy Corporation from PetroEnergy Resources Corporation (PSE:PERC) and EEI Power Corporation on October 26, 2022.