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NIPPON YUSOKI CO LTD to Acquire Fork Lift Business and Subsidiaries from Mitsubishi Heavy Industries, Ltd.


Thursday, 29 Nov 2012 01:30am EST 

NIPPON YUSOKI CO LTD announced that it will take over the fork lift business from Mitsubishi Heavy Industries, Ltd., effective April 1, 2013. Along with the business transition, NIPPON YUSOKI CO LTD will acquire 2,300 shares of Mitsubishi Caterpillar Forklift America Inc. (an 88.5% stake), 28,000 shares of Mitsubishi Caterpillar Forklift Europe (a 70.0% stake) , 3,500,000 shares of Mitsubishi Caterpillar Forklift Asia Pte Ltd. (a 70.0% stake), a 100% stake Mitsubishi Heavy Industries Forklift (Dalian) Co., Ltd. (for USD 44,332,000), from Mitsubishi Heavy Industries, Ltd. effective April 1, 2013. After the transactions, the four companies will become subsidiaries of NIPPON YUSOKI CO LTD. Along with the transaction, Rocla Oy, which is a subsidiary of Mitsubishi Caterpillar Forklift Europe B.V., will become sub-subsidiary of NIPPON YUSOKI CO LTD. NIPPON YUSOKI CO LTD will issue 27,213,437 shares of its common stock to Mitsubishi Heavy Industries, Ltd., on April 1, 2013. After this, Mitsubishi Heavy Industries, Ltd.'s voting rights in NIPPON YUSOKI CO LTD will increase from 20.09% to 49.48%, and will be parent company of NIPPON YUSOKI CO LTD. GS Yuasa Corporation's voting rights in the Company will lower from 10.04% to 6.35%. 

Company Quote

755.0
-3.0 -0.40%
1:15am EDT