Brief: Akebono Brake Industry plans reorganization of three European units

Akebono Brake Industry Co

16/03/2017 06:26

March 16 (Reuters) - Akebono Brake Industry Co Ltd  7238.T  
: 
     
    * Says co's wholly owned Belgium-based controlling company 
Akebono Brake Europe N.V. (AENV) will transfer entire 100 
percent stake in Akebono Europe S.A.S., Akebono Europe GmbH and 
Akebono Brake Slovakia s.r.o. (target firms) respectively, to 
the company  
    * Transaction amount is totaling 9.5 million euros (about 
1.16 billion yen) 
    * Co will own 100 percent stake in target firms directly 
    * And the unit AENV will commence on dissolution 
 and liquidation after divestiture of target firms 
     
    Source text in Japanese: https://goo.gl/QXAUf8 
    Further company coverage: 7238.T  
 
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