Pioneer, Onkyo and Baring Private Equity Asia discussions about amalgamating some of the Home Audio Visual business operations between Pioneer and Onkyo have now fallen through, with Onkyo set to take the lead in the deal.
UPDATE 18/09/14: It would seem that the nature of the proposed deal has taken a twist. It is now understood that Onkyo will be acquiring all outstanding shares in Pioneer Home Electronics, instead of splitting 49 percent of the shares with Pioneer, in a deal which would have seen the Hong Kong investment firm take the majority 51% stake.
That private equity firm is now backing out of the original deal, leaving Onkyo has the overwhelming major shareholder in Pioneer, who will be given a 14.95% share in the new organisation. As previously planned, the brands will remain separate entities but more will be known in October when integration plans are to be finalised.
We'll bring you more when we have it!
That private equity firm is now backing out of the original deal, leaving Onkyo has the overwhelming major shareholder in Pioneer, who will be given a 14.95% share in the new organisation. As previously planned, the brands will remain separate entities but more will be known in October when integration plans are to be finalised.
We'll bring you more when we have it!
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