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BRIEF-Allied Architects to split business to set up new unit; sell unit to Daito via stock swap
March 28, 2017 / 8:21 AM / 9 months ago

BRIEF-Allied Architects to split business to set up new unit; sell unit to Daito via stock swap

March 28 (Reuters) - Allied Architects Inc :

* Says it plans to split SNS platform GreenSnap operation business to set up a new wholly owned subsidiary in Tokyo named GreenSnap on March 31

* Says co resolves to sell the newly established subsidiary GreenSnap to an Osaka-based firm Daito Co Ltd which is mainly engaged in DIY creativity business, via stock swap, in mid-May

* Co will own about 10 percent stake in Daito Co Ltd after the transaction

Source text in Japanese: goo.gl/yFwmgD

Further company coverage: (Beijing Headline News)

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