Japan's Alps Alpine says Oasis Management suing it for $345 mln
13/03/2019 06:36
TOKYO, March 13 (Reuters) - Alps Alpine Co 6770.T said on
Wednesday Hong Kong-based fund Oasis Management had sued it for
38.4 billion yen ($345 million) in damages and had asked the
Tokyo District Court to nullify the merger that formed the
Japanese company.
Alps Alpine was created in January through the combination
of Alpine Electronics and Alps Electric Co. Oasis Management, a
shareholder in car navigation system maker Alpine Electronics,
had opposed the merger, saying the sale price was too low.
Alps Alpine said in a statement that the merger was
conducted appropriately, and that Oasis's claim that it was
unfair was "groundless".
($1 = 111.2900 yen)
(Reporting by Junko Fujita
Editing by Chang-Ran Kim)
((813-6441-1840, junko.fujita@thomsonreuters.com, Reuters
Messaging:junko.fujita.reuters.com@reuters.net;))