Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Panasonic To Buy Shares Of Firepro Systems - Quick Facts

Panasonic Corp.'s (PC: Quote) board has decided to acquire shares of the unlisted company, Firepro Systems Private Limited and to reach an agreement of subscriptions of allocation of new shares to a third party with its consolidated unit, Anchor Electricals Private Ltd. Panasonic would buy a portion of Firepro's ordinary shares owned by existing shareholders, while Anchor increases its capital by a third party allocation of shares.

Therefore, Panasonic would own 76.2% of Firepro's shares, including its shares owned by Anchor. After the purchase, the existing shareholders would continue to take a 23.8% interest in the Firepro. Closing process would be scheduled in late May, 2012.

Going forward, the company would aim to realize further growth by capital participation in Firepro to expand into "non-residential" areas including offices, buildings, commercial facilities.

Click here to receive FREE breaking news email alerts for Panasonic Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
This apparel maker has doubled its earnings per share in just two years and regularly increasing its annual earnings forecast, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's top-line and bottom-line results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.