Marantz and Denon to merge operations creating a global leader in the premium home theatre audio-video consumer electronics industry
Amsterdam, Tokyo, 07 March, 2002 - Marantz Japan Inc., its largest shareholder (49%), Royal Philips Electronics (AEX: PHI, NYSE
HG), and DENON, Ltd., its largest shareholder (98%), Ripplewood Holdings L.L.C. today announced the establishment of D&M Holdings, Inc. a joint holding company to merge the operations of Marantz and DENON. The transaction is expected to close by May 2002 and will create a global leader in the premium home theatre and audio-video (AV) market, while maintaining the established Marantz and DENON brands. D&M Holdings will employ approximately 1,650 people around the world and will succeed Marantz as a publicly traded concern on the Second Section of the Tokyo Stock Exchange (TSE II: 6799).
Marantz + DENON -- rt -- 07.03.02@14:29 (Чит.: 121)