On May 17, 2012, the Board of Directors of Hochiminh City Infrastructure Investment Joint Stock Company (CII) issued a resolution to raise its ownership in Lu Gia Mechanical Electric Joint Stock Company (LGC) to 60 percent. To implement this resolution, CII on May 25, 2012 issued a document to announce the buying of LGC’s shares.

On July 25, 2012, the Board of Directors of CII allowed CII to buy more LGC’s shares to increase CII’s stake in LGC to 80.24 percent.