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Kyocera Mita to Buy Kilburn’s Office-Equipment Business
NEW DELHI — Kyocera Mita Corp. said Tuesday its Indian unit has signed an agreement to acquire the office-equipment business of Kilburn Office Automation Ltd.
Through the buy, the unit of Kyocera Corp. will take over the sales offices and personnel of the local office-equipment company.Kyocera Mita didn’t give any financial terms in a statement posted on its website. Two people familiar with the matter said that the deal will be worth more than 1 billion yen.
The people didn’t want to be named.
Separately, Kilburn Office Automation, in a notice to the Bombay stock exchange, said it has agreed to divest its copier division undertaking to Kyocera Mita India, "as a going concern on a slump sale basis.""The transaction is expected to be completed by Aug. 31," Kilburn’s statement added.
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