The Strategist

Sony to sell its stake in Olympus for $760 mln


08/30/2019 - 04:09



Japanese Sony decided to sell its entire stake in the manufacturer of endoscopes, photographic equipment and optics Olympus back to the company itself for 80.4 billion yen ($ 762.88 million).



Sony will sell 68 million 975.8 thousand shares of Olympus (5.03% of the capital) at the closing price on Thursday (1,165 yen), according to a press release from Sony.

Sony bought an 11.5% stake in Olympus in 2012, and then sold half the stake to investment bank JPMorgan Chase & Co. in 2015.

Sony and Olympus will continue to collaborate in a business alliance, including through a joint venture for the production of medical equipment established by companies in 2013.

Japanese Olympus is the world leader in the production of gastrointestinal endoscopes, occupying about 70% of the market. The company employs more than 35.1 thousand people.

source: asia.nikkei.com