February 20, 2018 / 12:20 AM / a month ago

Mitsubishi Corp considers tender offer for Mitsubishi Motors shares

TOKYO, Feb 20 (Reuters) - Japanese trading house Mitsubishi Corp said on Tuesday it is considering launching a tender offer for shares in Mitsubishi Motors Corp to make it an equity method affiliate.

Mitsubishi Corp said in a statement it was considering buying shares in the carmaker held by Mitsubishi Heavy Industries Ltd and Bank of Tokyo-Mitsubishi UFJ, although no decision had been made.

The Nikkei reported earlier that Mitsubishi Corp planned to about double its interest in Mitsubishi Motors to around 20 percent by spending about 120 billion yen ($1.1 billion) for additional shares through a tender offer. (Reporting by Chris Gallagher; Editing by Stephen Coates)

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