November 22, 2016 / 7:11 AM / 3 years ago

BRIEF-Toyota Motor unit offers ToB for shares in Misawa Homes and plans capital and business alliance

Nov 22 (Reuters) - Toyota Motor Corp :

* Says its unit Toyota Home enters into a business and capital alliance with Misawa Homes Co Ltd

* Says Toyota Home is offering a takeover bid for no more than 5,460,800 shares (represents 14.10 percent stake, no lower limit) of Misawa Homes’ stock, at the price of 1,100 yen per share

* Total acquisition amount is 6 billion yen

* Say the offering period from Nov. 28 to Dec. 26

* Settlement date is Jan. 4, 2017

* Misawa Homes to distribute its treasury common stock and issue new shares with total amount of 16.9 million shares, via private placement to Toyota Home, for totaling 14.74 billion yen, from Jan. 5, 2017 to March 31, 2017

* Toyota Home will hold 51 percent stake in Misawa Homes after all transactions up from 27.84 percent currently

Source text in Japanese: goo.gl/sLJnyz ; goo.gl/QsvcM8 ; goo.gl/eES3Y6

Further company coverage: (Beijing Headline News)

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