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JVC KENWOOD Holdings may sell majority stake in Victor Entertainment to Konami

Nov 05, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Companies: JVC KENWOOD Holdings Inc (JVCZF), Konami Corp. (KNM)

According to Bloomberg, the Yomiuri newspaper reported that JVC KENWOOD Holdings, Inc. is in talks to sell a majority stake in its Victor Entertainment, Inc., a music software group company, to Konami Corporation. All the entities are based in Japan.

JVC KENWOOD is a business holding company, while Konami is engaged in the entertainment and health businesses. 

Deal Type    Acquisition
Sub-Category Majority Acquisition
Deal Status  Rumour: 2009-11-04

Deal Participants 

Target (Company)   Victor Entertainment, Inc.
Acquirer (Company) Konami Corporation
Vendor (Company)   JVC KENWOOD Holdings, Inc.

Deal Rationale

JVC Kenwood will use the sale proceeds to strengthen its core business.

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Companies: JVC KENWOOD Holdings Inc (JVCZF), Konami Corp. (KNM)


Related terms: acquisition, business, entertainment, health, japan, music, newspaper, software

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