Edition:
United Kingdom

West Japan Railway to buy 70 pct stake in unit of Mitsubishi Heavy Industries


Monday, 31 Oct 2016 

West Japan Railway Co <9021.T> : Says co plans to acquire a 70 percent stake in a Tokyo-based real estate agency (target company) which is the sub-subsidiary of Mitsubishi Heavy Industries Ltd <7011.T>, on Feb. 1, 2017 . Says transaction amount is 97 billion yen . Mitsubishi Heavy Industries plans to spin off real estate and related business to the target firm effect on Jan. 1, 2017 .Co will hold a 70 percent stake in the target company up from 0 percent.