Toyota to take key supplier private in $33 billion deal

TOKIO (Reuters)-The companies said on Tuesday that the Toyota company will independently of the Toyota crane maker in a deal worth $ 33 billion.

The companies said that going to the private sector would allow Toyota Industries to take a long -term work perspective. Japanese blocs are under increasing pressure to relax the risks in each other as part of pushing the government to improve the government.

“He reduces a slightly crossed participation within the group,” said Vincent Sun, a major analyst at Morningstar. “We believe it makes sense that Toyota Motor has a stake in Toyota Industries to take advantage of any possible potential technology in the future.”

A spokeswoman said the total cost of acquisition of the Toyota Group will be about 4.7 trillion yen ($ 33 ​​billion). This includes a $ 26 billion bid for Toyota Industries at a price of 16,300 yen, which is much lower than the closing price of 18,400 yen on Tuesday before announcing the deal.

The companies said that a new holding company will be established for the deal. Group Real Estate Toyota Fudosan will invest 180 billion yen, while Akio Toyoda, Chairman of Toyota Motor, will invest a billion yen. Toyota Motor will invest 700 billion yen in non -vote favorite stocks.

Toyota Motor and Group Companies Aisin, Denso and Toyota Tsusho will share their shares in Toyota Industries and gain their own shares that they now keep.

The companies said: “The Toyota Group focuses on the movement of people, goods, information and energy as it progresses towards a transformation company,” adding that Toyota Industries will focus on transporting goods.

Although the deal was widely expected, the price may be a shock. Media reports indicated that the tender supply will be about $ 42 billion, which is 62 % bonus for the actual offer.

In April, Toyota had said that she was considering participating in a potential purchase of Toyota industries.

Toyota has about 24 % of Toyota industries as of September last year, while Toyota industries have witnessed about 9 % of the world’s largest auto industry and more than 5 % of Denso.

Toyota Industries, which was the automatic Toyoda Lol, was established in 1926 by Sakishi Toyoda to make loom on the automatic horizon. A car section was created inside the company and was later stopped as Toyota Motor.

($ 1 = 142.6500 yen)

($ 1 = 142.8500 yen)

(Participated in David Doulan reports.