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TOKYO — Mitsubishi Electrical Company (TOKYO: 6503) and Mitsubishi Heavy Industries, Ltd. (TOKYO: 7011) introduced right this moment that they’ve every signed a contract for an absorption-type firm break up with MTG Co., LTD, which has been established as a preparatory firm to combine the 2 corporations’ power-generator methods companies below a deliberate three way partnership. As beforehand introduced, the 2 corporations agreed—in precept by a primary settlement (hereinafter MOU) on December 26, 2022 and intimately by a definitive settlement (hereinafter DA) on Could 29, 2023—on a plan to switch their respective power-generator methods companies to the deliberate joint-venture firm during which Mitsubishi Electrical and Mitsubishi Heavy Industries will turn into the shareholders on April 1, 2024.
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Additionally right this moment, Mitsubishi Electrical and Mitsubishi Heavy Industries entered right into a memorandum of understanding relating to modification of DA (hereinafter Modification Settlement).
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Merchandise numbers under are in step with the earlier announcement on Could 29, 2023, and newly introduced info is underlined.
2. Particulars of Integration
(1) Schedule
|
Execution of primary settlement |
December 26, 2022 |
|
Determination on Absorption-type Firm Cut up |
Could 29, 2023 |
|
Execution of definitive agreements |
|
|
Execution of company-split settlement Execution of Modification Settlement |
December 11,2023 |
|
Efficient date of firm splits |
April 1, 2024 (tentative) |
For the complete textual content, please go to: www.MitsubishiElectric.com/information/
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Contacts
Media inquiries
Mitsubishi Electrical Company
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
Mitsubishi Heavy Industries, Ltd.
Company Communication Division
mediacontact_global@mhi.com
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