TOKYO, Sept 26 Japan's Lixil Group Corp
would take a break from major acquisitions if it completes a
planned $4 billion deal for European bathroom fixtures maker
Grohe, the chief executive of Lixil told Reuters on
Speaking after an unrelated gathering in Tokyo, Yoshiaki
Fujimori also said Lixil would not issue new shares for the
acquisition, which would be financed in part by funds from the
state-owned Development Bank of Japan.
The Grohe deal would come on top of a string of recent
acqiusitions including the $542 million purchase of U.S. toilet
and plumbing fixtures maker American Standard in August and a
575 million euro ($776.7 million) deal for Italian curtain wall
maker Permasteelisa in 2011.
"This is probably it for the time being, because we've done
American Standard, we've done Permasteelisa," Fujimori said,
adding that the company would focus on integrating the companies
it had purchased rather than continue seeking other big deals.
Fujimori said Lixil had reached agreement on major terms for
a purchase of Grohe, although there were still some issues that
needed to be ironed out. He said an announcement on the deal was
likely later on Thursday.