|
|
Article: Merger of Sumishin Matsushita Financial Services Co., Ltd. and STB Leasing Co., Ltd.
- Article from:
- Mergers & Acquisitions Week
- Article date:
- November 18, 2009
CopyrightCOPYRIGHT 2009 NewsRX. 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)
|
The Sumitomo Trust and Banking Co., Ltd. (President and CEO: Hitoshi Tsunekage; "Sumitomo Trust") and Panasonic Corporation (President : Fumio Ohtsubo; "Panasonic") decided to effect, as of April 1, 2010, a merger ("Lease Subsidiary Merger") of Sumishin Matsushita Financial Services Co., Ltd. ("SMFC"), a company jointly invested in by Sumitomo Trust and Panasonic, and STB Leasing Co., Ltd. ("STBL"), a wholly-owned subsidiary of Sumitomo Trust, and have entered into a basic agreement today.
1. Purpose of Merger SMFC is a comprehensive financial services company that develops various businesses such as leasing, installment sales, credit card and financing, ...