By Tom Grater International Film Reporter Sony is turning its listed subsidiary Sony Financial Holdings into a wholly owned in house entity, in a deal that will cost $3.73BN (400 billion yen).
According to financial paper Nikkei, the move is being made to take control of a stable profit generator during the current pandemic, and mirrors similar action taken by Alibaba and Apple.
Sony already owns 65% of the unit and will purchase the remaining shares through a tender offer, paying $24.19 (2,600 yen) per share, a premium of around 30% over the current price.
The report says the Japanese electronics and entertainment giant will combine its artificial intelligence capabilities with the expertise of Sony Financial, which operates a bank as
Read more on deadline.com
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