japans-mitsui-buys-strategic-stake-in-tpv-technology

Japan's Mitsui buys strategic stake in TPV Technology

Japanese trading company Mitsui will buy up to 20% of display products maker TPV Technology, while TPV's controlling shareholder, China Electronics Corporation, will also increase its stake.

Japanese trading company Mitsui is buying up to 20% of Hong Kong-based display products company TPV Technology, as part of a deal that will also see TPV's controlling shareholder, China Electronics Corporation CEC, increase its stake.

Beijing-based CEC, a Chinese state-owned enterprise, already owns 27% of TPV. According to an announcement issued late last Friday, it will buy an additional 200 million TPV shares, representing 9.47% of the share capital, for a total of HK$1.04 billion $134 million, or HK$5.20 per share. The seller is Dutch firm Royal Philips Electronics, which will continue to own 63 million shares, representing 3% of TPV's existing share capital.

Mitsui...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222