Tungaloy Sold To Berkshire Hathaway Unit

September 2008 | M&A News Alert

International Metalworking Companies (IMC), a unit of Warren Buffet's investment firm Berkshire Hathaway headquartered in the Netherlands, has agreed to become the parent company of Japan's Tungaloy. Nomura Principal Finance (NPF), the current parent company of Tungaloy, will transfer its 71.2% stake in the company to IMC. As part of the deal, Tungaloy will end its business alliance with OSG, which will be done by acquiring the 67,500 shares OSG holds, around a 19% stake, as treasury stock.

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