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Japan's Lixil to tender for more Joyou shares after Grohe deal
September 26, 2013 / 10:08 AM / 4 years ago

Japan's Lixil to tender for more Joyou shares after Grohe deal

TOKYO (Reuters) - Japan’s Lixil Group Corp (5938.T) said it would buy additional shares in Joyou AG JY8G.DE, a Chinese bathroom fittings maker, through a public tender offer tied to its roughly $4 billion acquisition of Germany’s Grohe.

Lixil said it would receive Grohe’s 72.3 percent stake in Joyou as part of the acquisition, and then launch a public tender for additional Joyou shares. It did not offer details on the size of the planned additional stake.

Reporting by Nathan Layne; Editing by Edmund Klamann

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