Company Statement: Sanyo makes basic agreement on corporate split of Sanyo subsidiaries
(Sanyo Energy Twicell and Sanyo Energy Tottori) and transfers of subsidiaries’ stock
( October 28, 2009, 13:21 GMT | Official Statement) -- Extract: SANYO Electric Co., Ltd. announces ... it resolved to enter into with FDK Corporation ... a master agreement ... the subject matter of which is the following major transactions for the purpose of transferring to FDK the business relating to nickel-metal hydride batteries other than those for use in automobiles ... the businesses relating to cylindrical primary lithium batteries ... coin-shaped rechargeable batteries ... and part of the business of manufacturing electrode plates for nickel-cadmium batteries. ... The execution of the Master Agreement is a necessary measure to obtain the permission from the overseas competition law authorities in order for Panasonic Corporation to launch a tender offer for SANYO’s shares.Extract:...
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