IR News
Toshiba Corporation
Further Notice on the Alliance in Real Estate Business through Sale of Majority Ownership of Toshiba Building Co., Ltd by Nomura Real Estate Holdings, Inc. and Toshiba Corporation
Nomura Real Estate Holdings, Inc. (hereafter Nomura Real Estate HD) and Toshiba Corporation (hereafter Toshiba) announced on July 22, 2008 that they had reached a basic agreement on an alliance in the real estate business. The agreement provided for Nomura Real Estate HD to take a majority stake in Toshiba Building Co., Ltd. (hereafter Toshiba Building), at that time a consolidated subsidiary of Toshiba, and for Toshiba Building to become a consolidated subsidiary of Nomura Real Estate HD on completion of the share transfer.
Nomura Real Estate HD and Toshiba today announce that they have now finalized and entered into definitive agreements, a stock transfer agreement and a shareholder agreement. The following provides amendments from the previous announcement.
- Price of stock-transfer
The previous announcement of the agreement estimated that the value of the stock transfer would be 80 billion JP yen. The actual and final figure is 79.8 billion yen. - Schedule
The transfer of stock was initially expected to take place by the end of December 2008.The definitive agreements stipulate that the transfer shall be made on December 25, 2008. - Others
With respect to the impact on the current term consolidated business results of Nomura Real Estate HD, notification will be made once details are confirmed.
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