Lenovo to Invest $175 Million to Form Venture With NEC
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Lenovo Group Ltd., China’s biggest personal-computer maker, agreed to invest $175 million to form a venture with NEC Corp. and expand in the Japanese market.
The Chinese company will give NEC 281.1 million new Lenovo shares, valued at HK$4.85 apiece, to buy a 51 percent stake of the venture, Lenovo said in a statement today. Both companies will transfer their Japan PC assets into the venture, named Lenovo NEC Holdings BV, and NEC will own a 49 percent stake, according to the statement.