Business News
Kyocera Mita advances in takeover of German company
Dec 10, 2008, 16:45 GMT
Nuremberg, Germany - Japan's Kyocera Mita Corporation has obtained more than 50 per cent of the stock in Triumph-Adler AG, the German office services company said Wednesday.
The Osaka-based company last month said it aims to secure between 60 to 75 per cent of the German firm's share capital and was not planning to squeeze out any shareholders who remain.
Triumph-Adler makes and installs printing, copying and faxing systems for businesses.
Kyocera Mita had previously held less than 30 per cent of the company's shares. Triumph-Adler and its board of management took 'an essentially positive stance' to the takeover bid.
Triumph-Adler said the Japanese manufacturer passed the 50-per-cent mark on Monday.
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