March 6, 2018 / 7:41 AM / 4 months ago

BRIEF-Ubisense Group Says ‍Reorganising Business In Japan

March 6 (Reuters) - Ubisense Group Plc:

* SAYS ‍REORGANISING ITS BUSINESS IN JAPAN, INCLUDING SALE OF ITS JAPANESE THIRD PARTY GEOSPATIAL SERVICES BUSINESS​

* ‍WILL CARVE-OUT ITS JAPANESE GEOSPATIAL SERVICES BUSINESS INTO A SEPARATE ENTITY​

* ‍TO SELL THE JAPANESE GEOSPATIAL SERVICES BUSINESS TO A SUBSIDIARY OF FINTECH GLOBAL INC OF JAPAN FOR JPY 100 MILLION (OR ABOUT £0.7 MILLION)​

* ‍AGREED TO ACQUIRE 23% MINORITY INTEREST IN ITS JAPANESE OPERATING CO; DEAL WILL GIVE GROUP 100% OWNERSHIP OF ITS REMAINING JAPANESE OPERATIONS​ Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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