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.