Yamaha Completes Acquisition of Founders’ Shareholdings in French Company NEXO

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As previously announced on June 19, 2008, Yamaha Corporation decided to seek to acquire NEXO SA, a leading French manufacturer and seller of professional acoustic speaker systems. This decision followed Yamaha’s successful strategic alliance with the company since 2005. Immediately after the decision, Yamaha made an offer, to purchase the shares of the two founders, who are the principal shareholders.

Subsequently, discussions proceeded as scheduled, and on July 31 (CET), Yamaha completed the first step of this acquisition by purchasing all of the shares of the two founders of NEXO. Going forward, Yamaha is scheduled to launch a tender offer for the remaining shares of NEXO on the open market in September, with the objective of acquiring 100% of NEXO’s shares.

Following the completion of the acquisition of the founders’ shares, at an extraordinary meeting of NEXO’s board of directors, the board elected as its new chairman and chief executive officer Mr. Keisuke Kobayashi of Yamaha Corporation.

Outline of the share acquisition

Total acquisition amountApproximately 35.8 million euros
Number of shares purchased694,709 (at a price of 51.542 euros per share)
Percentage of ownership represented by the acquired shares74.9% (after full dilution)
Newly elected Chairman and CEOKeisuke Kobayashi (Former Head of Commercial Audio, Deputy General Manager at Yamaha’s PA/DMI Division, and Director of NEXO)

Anticipated timeline for completing the acquisition

September 2008Scheduled to launch a tender offer
October 2008Scheduled to complete the tender offer
October 2008Scheduled to apply to delist

For further information, please contact

Yamaha Corporation

Corporate Communications Division, Public Relations Group

  • TEL. +81-3-5488-6601
  • FAX. +81-3-5488-5060

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