Sharp Planning To Sell Its 9.2 Percent Stake In Pioneer, Search For Buyer Is ON

Posted on Apr 15 2013 - 5:43pm by Editorial Staff

Sharp Corporation

With Sharp trying its level best to get out from all its troubles, then whether the recent raising of $1.1 billion, the company today moved a step further and reportedly planning to sell its 9.2 percent stake in Pioneer to finance restructuring measures while the current status tells that the company is in search for a buyer, reports The Japan Times.

The publication puts in glitter forward saying that the move is part of its effort helping cover an upcoming debt payment of 200 billion yuan (about $2.14 billion) due in September. The plan of selling Pioneer shares being in Sharp’s agenda since last year as part of a restructuring push, while the two companies, formed a capital and business tieup back in 2007, intending to keep collaborating and Pioneer to retain its 0.8 percent stake in Sharp.

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