Yamaha acquires 75% of Nexo SA
Following an announcement in June that it was seeking to acquire Nexo SA, Yamaha Corporation has purchased the shares of the two founders, the principle shareholders. This brings Yamaha’s current holding to around 75% of Nexo.
Following this move, Yamaha is scheduled to launch a tender offer for the remaining shares of Nexo on the open market, with the intention of acquiring a 100% stake in the company.
Subsequent to the completion of the acquisition of the founders’ shares, at an extraordinary meeting of NEXO’s board of directors, the board elected as its new chairman and chief executive officer Mr. Keisuke Kobayashi of Yamaha Corporation.
NEXO's founders Eric Vincenot and Michael Johnson will remain on NEXO's Board of Directors within the company and Michael Johnson has been nominated to the position of Deputy General Director.