Brief: Taiyo Holdings to form business and capital alliance with 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
(Beijing Headline News)
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