July 3, 2013 / 6:46 AM / in 4 years

Japan's Dentsu to raise $1.2 bln to pay down debt

TOKYO, July 3 (Reuters) - Japan’s Dentsu Inc decided to raise about 120 billion yen ($1.2 billion) by selling newly issued shares and treasury stock, it said in a regulatory filing on Wednesday.

The company said it would use the money raised to pay down 200 billion yen of short-term debt for the acquisition of Aegis Group Plc.

$1 = 100.4050 Japanese yen Reporting by Taiga Uranaka; Editing by Jacqueline Wong

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