Fujifilm to own 100% of Fuji Xerox
FUJIFILM HLDGS CORP ADR (FUJIY)
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Source: PR Newswire
TOKYO, Nov. 5, 2019 /PRNewswire/ -- FUJIFILM Holdings Corporation (including certain of its subsidiaries, "Fujifilm") (TSE: 4901) announced today that it has entered into a definitive agreement with Xerox Corporation (including certain subsidiaries, "Xerox") under which Fujifilm will acquire the 25% stake in Fuji Xerox Co., Ltd. ("Fuji Xerox") owned by Xerox. This transaction will bring Fujifilm's ownership of Fuji Xerox to 100%. The transaction was unanimously approved by the Boards of Directors of Fujifilm and Xerox. Fuji Xerox will operate as a wholly owned subsidiary of Fujifilm and will continue to supply to Xerox after completion of the transaction."This transaction is an ideal next step for Fuji Xerox and Fujifilm that we believe serves our stakeholders well and reflects our commitment to create innovative products that contribute to society," said Shigetaka Komori, Chairman and Chief Executive Officer of Fujifilm."Fuji Xerox has now become a lean and strong company after a s
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