November 1, 2014     Japanese 
  JCN 
	  Network - Home
JCN Newswire
  Home  |  Companies  | Annual Reports  |  CSR  | News Alerts     
 
Share:
Panasonic to Sell Stake in Bicycle Maker Miyata
 

Osaka, Oct 8, 2008 (Jiji Press) - Panasonic Corp. <6752> has agreed to sell its 40.69 pct stake in bicycle maker Miyata Industry Co. <7301> to fire engine maker Morita Holdings Corp. <6455>, officials at the Japanese electronics maker said Wednesday.

Morita, which acquired 10 pct of Miyata in 2001, will buy Panasonic's holdings in a tender offer. Panasonic, Miyata's largest shareholder, has been supporting the company's turnaround effort since its 1959 equity participation.

In the tender offer set for Thursday through Nov. 7, Morita will buy Miyata shares for 205 yen apiece.

Miyata could be delisted from the second section of the Tokyo Stock Exchange as Morita has no upper limit on the number of Miyata shares it will buy.

By Jiji Press, (c) Jiji Press

Copyright © 2014 JCN. All rights reserved. A division of Japan Corporate News Network KK.



ACN Newswire

 Recent  IT & Internet News   
KDDI Develops Creative Platform for Firefox OS Developers (Oct 10, 2014)
ITOCHU Invests in Bellsystem24, Japan's Largest Call Center Provider  (July 30, 2014)
DNP Develops Security Application for Safe M2M Communications (Mar 14, 2014)
transcosmos Launches Call Center Business In Indonesia (June 14, 2013)
Hitachi Develops Biometric Digital Signature Technology (Feb 26, 2013)
 
CSR Report Download
Annual Reports

  More >>    
Most Popular


About JCN | Privacy Policy | Terms of Use | JCN Network (日本語)