Hitachi Transport System Ltd (9086.T)
Latest Key Developments (Source: Significant Developments)
Hitachi Transport System forms business and capital alliance with SG Holdings Co.,Ltd. and Sagawa Express Co., Ltd.
Hitachi Transport System Ltd:Formed a business and capital alliance with SG Holdings Co.,Ltd. and on March 30.Through the business alliance, the three companies will work together on joint sales, vehicles centralized management, logistics improvement, global business expansion and resource business.Through the capital alliance, SG Holdings will purchase 10,655,240 shares (20 pct voting rights) of Sagawa Express at the price of 6,224 yen per share, effective May 20.SG Holdings will also purchase 32,349,700 shares (29 pct voting rights) of Hitachi Transport System, at the price of 2,707 yen per share, or 87,570,637,900 yen in all, from Hitachi, Ltd., effective May 19.After the transaction, Hitachi, Ltd will hold 30.01 pct voting rights in Hitachi Transport System, down from 59.02 pct.SG Holdings will become the second major shareholder of Hitachi Transport System, with 29.01 pct voting rights, up from 0 pct. Full Article
Hitachi Transport System Ltd:Rating and Investment Information, Inc. (R&I) affirms the company's issuer rating at "A".Rating outlook stable. Full Article
FRANKFURT Siemens and Alstom have agreed to merge their rail businesses, creating a bigger second player to China's CRRC , with sales of 15.3 billion euros ($18 billion).