Reuters: Technology News: Japan's NEC to sell entire Lenovo stake in $230 million deal: source

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Japan's NEC to sell entire Lenovo stake in $230 million deal: source Sep 4th 2012, 14:05 Tweet Share this Email Print Related News KKR in talks to invest $1.3 billion in Japan's Renesas: sources Wed, Aug 29 2012 UPDATE 3-KKR in talks to invest $1.3 bln in Japan's Renesas-sources Wed, Aug 29 2012 Elpida says it submitted Micron restructuring plan Tue, Aug 21 2012 Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Customers talk to a salesperson about a new laptop at a Lenovo shop in Shanghai February 17, 2011. Credit: Reuters/Aly Song TOKYO | Tue Sep 4, 2012 10:05am EDT TOKYO (Reuters) - Cash-strapped computer services provider NEC Corp will sell its entire stake in China's Lenovo Group Ltd in a transaction worth about 18 billion yen ($230 million), a source with direct knowledge of the matter told Reuters on Tuesday. The source added that NEC would maintain its joint venture with Lenovo in Japan. The details were in line with a report earlier on Tuesday by IFR, a Thomson Reuters publication. IFR said the offering price in the deal was equivalent to a discount of 1.8 percent to 4.8 percent to Lenovo's Tuesday closing price of HK$6.62, and that Credit Suisse was hired as sole bookrunner on the deal. ($1 = 78.2600 Japanese yen) (Reporting by Maki Shiraki; Editing by Edmund Klamann) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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