Brief: Taiyo Holdings to form business and capital alliance with DIC

DIC

25/01/2017 06:55

Jan 25 (Reuters) - Taiyo Holdings Co Ltd   4626.T :  
     
     
     
    * Says the co entered into agreement with DIC Corp  4631.T  
to form business and capital alliance  
    * Says two entities will cooperate on joint development of 
materials of printed wiring board and electronics products, as 
well as improvement of cost control at overseas plants 
    * Says the co plans to issue 1.3 million shares and to 
distribute 4.3 million shares of its treasury common stock to 
DIC Corp via private placement for 24.87 billion yen 
    * Says the proceeds to be used to fund investment and M& A 
    * Says DIC Corp will raise stake in the co to 19.5 percent, 
up from 0 percent, after the private placement 
    * Says DIC Corp will become the top shareholder of the co, 
to replace KK KOWA 
    * Says effective date on Feb. 10 
     
     
     
    Source text in Japanese:https://goo.gl/gFmPH0; 
https://goo.gl/DUxH0y 
    Further company coverage: 4626.T  4631.T  
 
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