Japan's Lixil Group to discuss Lixil Viva stake sale at board meeting
09/06/2020 01:03
TOKYO, June 9 (Reuters) - Lixil Group 5938.T said on
Tuesday it would discuss the possible sale of its stake in Lixil
Viva 3564.T at a board meeting on the same day, in a deal the
Nikkei business daily reported could reach around 100 billion
yen ($923 million).
The Nikkei reported earlier that the Japanese luxury toilet
maker planned to offload its entire 53% interest in Lixil Viva,
an operator of home improvement stores, to Arcland Sakamoto
9842.T via a tender offer.
Lixil Group said in a statement the reports by the Nikkei
and others were not based on any announcement it had made. The
company said it would make a prompt announcement if any
developments warranted disclosure.
Arcland Sakamoto said in a separate statement it would
discuss the reported tender offer at a board meeting on Tuesday.
($1 = 108.4000 yen)
(Reporting by Chris Gallagher; Editing by Muralikumar
Anantharaman)
((chris.gallagher@thomsonreuters.com; 81-3-4563-2714;))