Sharp to sell its large stake in Pioneer

Sharp to sell its large stake in Pioneer
Struggling electronics maker Sharp is reportedly eyeing buyers for its large stake in Pioneer, another consumer tech company.

The company would use the proceeds of the sale to help pay off its substantial debt burden, most notably a portion of its $2.14 billion convertible debt note that's coming due in September.

Sharp has a 9.2 percent stake in Pioneer, making it the company's largest shareholder.

Even if Sharp sells its share, the companies would still collaborate and Pioneer would keep its own 0.8 percent share in Sharp.

Written by: Andre Yoskowitz @ 15 Apr 2013 21:57
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