Brief: Kumagai Gumi says business and capital alliance with Sumitomo Forestry

Kumagai Gumi Co

09/11/2017 07:09

Nov 9 (Reuters) - Kumagai Gumi Co Ltd  1861.T   
     
    * Says it signed business and capital alliance with Sumitomo 
Forestry Co Ltd  1911.T  on Nov. 9  
    * Says two entities will mainly cooperate on afforestation 
related 
business, renewable energy business and overseas business  
    * Says it will issue 9.1 million new shares and distribute 
310,000 
shares of its treasury common stock to Sumitomo Forestry Co Ltd, 
to raise 34.68 billion yen in total   
    * Payment date on Nov. 28  
    * Says Sumitomo Forestry Co Ltd will raise voting power in 
the co 
to 20 percent after transaction  
    * Says Sumitomo Forestry Co Ltd will issue 5.2 million 
shares to 
the co and raise 10 billion yen and payment date on Nov. 28  
    * Says the co will raise voting power in Sumitomo Forestry 
Co Ltd 
to 2.9 percent after transaction  
 
     
    Source text in Japanese:https://goo.gl/F1x4hn; 
https://goo.gl/r9ac6V; https://goo.gl/XbHyXF 
    Further company coverage: 1861.T  1911.T  
 
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