Lenovo buys controlling stake in the company Fujitsu, which produces PC
Fujitsu and Lenovo, as well as Bank Development Bank of Japan (DBJ) announced a «strategic partnership». The form of cooperation you choose to create a joint venture. It will deal with the development, design, production and sale of «client computing devices» (Client Computing Devices, CCD). Simply put, personal computers.
Under the terms of the agreement, Fujitsu will sell 51% of its subsidiary, Fujitsu Client Computing Limited (FCCL) with Lenovo and 5% DBJ. After this is completed, FCCL will be a joint company owned by Fujitsu, Lenovo and DBJ. The joint venture will retain the head and the name of Fujitsu Client Computing Limited. Its products will be sold under the brand Fujitsu.
Fujitsu will receive a total of 28 billion yen (25.5 billion yen from Lenovo and 2.5 billion yen from DBJ). The transaction is expected in the first quarter of 2018 fiscal year.