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LIXIL Group Corp and Development Bank of Japan Inc to Jointly Acquire Stake in GROHE Group S.à r.l. and Joyou AG

Thursday, 26 Sep 2013 05:30am EDT 

LIXIL Group Corp announced that it will acquire a 87.5 % stake (50,000,000 shares) in GROHE Group S.à r.l. from Glacier Luxembourg One S.à r.l., through a 50:50 joint venture established with Development Bank of Japan Inc, as well as the joint venture's wholly owned subsidiary. The joint venture will also hold 17,323,644 shares (72.3% stake) of Joyou AG, through GROHE Group S.à r.l., after the transaction. The acquisition price is approximately EUR 2,935 million in total. 

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-11.0 -0.48%
10:30pm EDT