‘Sony to invest $642 mn in Olympus’

Sony Corp will likely approve a plan this week to invest 50 billion yen ($642 million) in cash-strapped Olympus Corp, becoming its biggest shareholder with around a 10% stake, three sources familiar with the deal told Reuters.
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Updated on Sep 25, 2012 10:41 PM IST
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Reuters | By HT Correspondent, Tokyo

Sony Corp will likely approve a plan this week to invest 50 billion yen ($642 million) in cash-strapped Olympus Corp, becoming its biggest shareholder with around a 10% stake, three sources familiar with the deal told Reuters.

Sony will set up a joint business with Olympus to develop new medical equipment, and next year will send an executive to join its board of directors, the sources said on condition they were not identified. Sony wants to nurture new segments.

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