March 16, 2017 / 6:30 AM / 4 months ago

BRIEF-Akebono Brake Industry plans reorganization of three European units

1 Min Read

March 16 (Reuters) - Akebono Brake Industry Co Ltd :

* Says co's wholly owned Belgium-based controlling company Akebono Brake Europe N.V. (AENV) will transfer entire 100 percent stake in Akebono Europe S.A.S., Akebono Europe GmbH and Akebono Brake Slovakia s.r.o. (target firms) respectively, to the company

* Transaction amount is totaling 9.5 million euros (about 1.16 billion yen)

* Co will own 100 percent stake in target firms directly

* And the unit AENV will commence on dissolution and liquidation after divestiture of target firms

Source text in Japanese: goo.gl/QXAUf8

Further company coverage: (Beijing Headline News)

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