Brief: Ubisense Group Says ‍Reorganising Business In Japan

FinTech Global

06/03/2018 07:40

March 6 (Reuters) - Ubisense Group Plc  UBIS.L :
    * SAYS ‍REORGANISING ITS BUSINESS IN JAPAN, INCLUDING SALE
OF ITS
JAPANESE THIRD PARTY GEOSPATIAL SERVICES BUSINESS​
    * ‍WILL CARVE-OUT ITS JAPANESE GEOSPATIAL SERVICES BUSINESS
INTO A
SEPARATE ENTITY​
    * ‍TO SELL THE JAPANESE GEOSPATIAL SERVICES BUSINESS TO A
SUBSIDIARY OF FINTECH GLOBAL INC OF JAPAN FOR JPY 100 MILLION
(OR ABOUT £0.7 MILLION)​
    * ‍AGREED TO ACQUIRE 23% MINORITY INTEREST IN ITS JAPANESE
OPERATING CO; DEAL WILL GIVE GROUP 100% OWNERSHIP OF ITS
REMAINING JAPANESE OPERATIONS​

Source text for Eikon:  ID:nRSF7966Ga 
Further company coverage:  UBIS.L 

 (Reuters.Briefs@thomsonreuters.com)