Acom becomes subsidiary of Mitsubishi UFJ Financial Group
Dec 26, 2008 (Datamonitor via COMTEX News Network) -- Japan-based Mitsubishi UFJ Financial Group has announced that its equity-method affiliate, Acom Company, has become a consolidated subsidiary of the group.
As previously announced in September 2008, Acom and Mitsubishi UFJ Financial Group (MUFG) have agreed to strengthen their business and capital alliance, which included the agreement that Acom would become a subsidiary of MUFG.
As a result of the recently completed public tender offer for shares of Acom, MUFG has calculated that its percentage share of the voting rights associated with its holding of Acom shares is 40.03%. The procedures required to make Acom a consolidated subsidiary have now been completed and Acom has become a consolidated subsidiary of the group, said MUFG.
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