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Asahi Glass: To Buy 51% Stake In Germany's Interpane

Post Time:Dec 21,2011Classify:Company NewsView:447

TOKYO (Dow Jones)--Asahi Glass Co. (5201.TO) said Wednesday it has reached an agreement to buy a 51% stake in Germany's Interpane Glas Industrie AG in a bid to increase its global presence.

 

The Tokyo-based company said it has concluded an accord with the German maker of glass for use in buildings and solar battery panels. The purchase is pending approval from anti-trust authorities, but a spokesman said the company couldn't give details such as the purchase price at the moment.

 

The spokesman said the company aims to complete the deal by the end of April 2012.

 

With about 1,300 employees and annual sales of about EUR250 million, Interpane operates businesses in Germany, Austria and France.

 

Source: http://online.wsj.comAuthor: shangyi

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