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Digital Garage Inc's Subsidiary Forms Business and Capital Alliance with Credit Saison Co Ltd

Friday, 29 Mar 2013 02:30am EDT 

Digital Garage In announced that its subsidiary, econtext Asia Limited has signed an agreement with Credit Saison Co Ltd to form a business and capital alliance. Through the business alliance, the two companies will be cooperating in marketing business of Asia area, domestic expanding, as well as the development of solution business. Through the capital alliance, Digital Garage Inc will be transferring 12,174,262 shares (a 7.5% stake) of econtext Asia Limited's common stock, to Credit Saison Co Ltd, at the price of JPY 1,649 million, effective April 17, 2013. After this, Digital Garage Inc will hold a 82.5% stake (133,916,879 shares) in econtext Asia Limited, down from a 90% stake (146,091,141 shares). 

Company Quote

-31.0 -1.36%
1:00am EST