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Article: JAPANESE SEINO TO BUY SEIBU TRANSPORTATION FOR US$221-331 BLN.
- Article from:
- AsiaPulse News
- Article date:
- January 20, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Jan 20 Asia Pulse - Seino Holdings Co. (TSE:9076) announced Monday a plan to acquire freight trucking firm Seibu Transportation Co., a deal that will strengthen Seino's operations in the Kanto and Kyushu regions as well as its air cargo business.
The acquisition cost is estimated at 20-30 billion yen (US$221-331 million). With successive operating losses, the Seibu Holdings Inc. unit has decided to rebuild under Seino's umbrella.
Seibu Transportation posted an operating loss of 200 million yen on sales of 83.8 ...
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