July 1, 2008
Usen to Take Full Control of Intelligence
Tokyo, July 1 (Jiji Press)--Cable broadcaster Usen Corp. said Tuesday it plans to take full control of its staffing service subsidiary, Intelligence Ltd. , through an equity swap by the end of September to strengthen the group's sales operations.
Intelligence shares will be delisted from the Jasdaq Securities Exchange on Sept. 30.Usen currently owns 37.64 pct of Intelligence.
The swap ratio and other details will be decided later.
Intelligence shares closed at 79,500 yen Tuesday. Based on the closing price, the acquisition cost will total about 20 billion yen.END
(c) 2008 Jiji Press English News Service. Provided by ProQuest Information and Learning. All rights Reserved.