Nippon Light Metal Holdings Company, Ltd. cancelled the acquisition of additional 31% stake in Sumikei-Nikkei Engineering Co.,Ltd. from UACJ Corporation.
August 01, 2019
Share
Nippon Light Metal Holdings Company, Ltd. (TSE:5703) agreed to acquire an additional 31% stake in Sumikei-Nikkei Engineering Co.,Ltd. from UACJ Corporation (TSE:5741) on August 2, 2018. Upon completion, Nippon Light Metal Holdings Company, Ltd.'s stake in Sumikei-Nikkei Engineering Co.,Ltd. will increase from 50% to 81% and UACJ Corporation's stake will decrease from 50% to 19%. Sumikei-Nikkei Engineering Co.,Ltd. reported sales of ¥11.7 billion in year ended December 31, 2017. The transaction is subject to conditions such as approval by relevant authorities and is expected to complete by end of September 2018.
Nippon Light Metal Holdings Company, Ltd. (TSE:5703) cancelled the acquisition of additional 31% stake in Sumikei-Nikkei Engineering Co.,Ltd. from UACJ Corporation (TSE:5741) on August 2, 2019.
Nippon Light Metal Holdings Company, Ltd. is a Japan-based company mainly engaged in the manufacture and sale of alumina and chemical products, board and extrusion products, processed products, foil and powder product. The Company has four business segments. The Aluminum, Chemicals and Metals segment is engaged in the provision of alumina, aluminum hydroxide, various chemicals, aluminum bullions, aluminum alloys and others. The Board and Extrusion Products segment is engaged in the provision of aluminum sheets and aluminum extrusion products. The Processed Products and Related Business segment is engaged in the provision of processed aluminum products, including electronic materials, industrial components, landscape related products, panels for freezers and refrigerators, transportation related products, and carbon products, as well as the information processing and insurance agency services. The Foil and Powder Products segment is engaged in the provision of foil and powder products.
Nippon Light Metal Holdings Company, Ltd. cancelled the acquisition of additional 31% stake in Sumikei-Nikkei Engineering Co.,Ltd. from UACJ Corporation.