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7 months ago
BRIEF-Panasonic acquires 50.95 pct stake in Zetes Industries
December 22, 2016 / 1:47 PM / 7 months ago

BRIEF-Panasonic acquires 50.95 pct stake in Zetes Industries

1 Min Read

Dec 22 (Reuters) - Zetes Industries SA :

* Panasonic acquires an initial 50.95 percent stake in Zetes Industries

* The purchase price per share payable by Panasonic for the Zetes shares is 54.50 euros($56.92), representing a premium of 19.1 pct to the 30-day average share price

* The price will be payable by Panasonic in cash and takes into account the amount of the interim dividend of 0.80 euros paid on December 21, 2016

* The completion of the acquisition by Panasonic is still subject to merger control approval

* The transaction is currently anticipated to close at the beginning of Zetes' second quarter of 2017 Source text: bit.ly/2hdexsd Further companies coverage: ($1 = 0.9575 euros) (Gdynia Newsroom)

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