Tokyo court dismisses injunction by Hong Kong investor on NEC's JAE stake sale

Japan Aviation Electronics Industry

27/02/2024 06:20

TOKYO, Feb 27 (Reuters) - A Japanese court dismissed an
injunction filed by Hong-Kong based hedge fund Oasis Management
to block NEC's sale of its stake in its listed unit Japan
Aviation Electronics (JAE)  6807.T , the IT services and
software firm said on Tuesday.
    The injunction request was filed with the Tokyo District
Court on Feb. 20.
    Reuters reported NEC had received multiple buyout offers
from global private equity funds for JAE before agreeing to
tender much of its 51% stake in the unit at a discount via a
tender offer.    

 (Reporting by Makiko Yamazaki; Writing by Satoshi Sugiyama;
Editing by Himani Sarkar)
 ((Satoshi.Sugiyama@thomsonreuters.com;))