Brief: Mitsubishi Corp - Announces Resolution On Financial Reinforcement Plan For Chiyoda Corporation

Chiyoda

09/05/2019 06:11

May 9 (Reuters) - Mitsubishi Corp  8058.T : 
    * ANNOUNCES RESOLUTION ON FINANCIAL REINFORCEMENT PLAN FOR
CHIYODA
CORPORATION
    * TO SUBSCRIBE TO 70 BILLION YEN OF CHIYODA CORP A-CLASS
PREFERRED
SHARES AT 400 YEN A SHARE THROUGH THIRD-PARTY ALLOTMENT
    * TO LOAN 90 BILLION YEN TO CHIYODA CORP
    * HAS OPTION OF CONVERTING PREFERRED SHARES IN CHIYODA CORP
TO
COMMON STOCK AFTER JULY 1
    * WILL BE TREATING CHIYODA AS CONSOLIDATED SUBSIDIARY ONCE
THE
NECESSARY APPROVALS ARE OBTAINED

Source text for Eikon:  ID:nTSQI66037 
Further company coverage:  6366.T