Tokio Marine agrees $163m sale of Japan's Izumi
Tokio Marine Capital has agreed to sell Izumi Products, a Japanese manufacturer of electric tools and home appliances, to Maxell Holdings and Development Bank of Japan (DBJ) for JPY18.2 billion ($163.5 million).
Maxell and DBJ will purchase 100% of the business, including a 75.6% stake held by Tokio Marine and a 24.4% interest held by Mercuria Japan Industrial Growth Fund. Maxell said it would own 40% of the special...
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