Tag: insolvency

LIXIL announces losses of YEN 33.2 billion (US$ 265 million) due to Joyou AG’s insolvency filing

Jun 10, 2015

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by

g_fasol

in Corporate Governance, FDI, Japanese investments in EU, M&A

LIXIL (“Link to good living”) acquired approx. 70% of German listed Chinese subsidiary Joyou AG via the GROHE acquisition Joyou AG files for bankruptcy On January 21, 2014, LIXIL had acquired 87.5% of the German bath fixtures company GROHE Group (“Pure Freude am Wasser”). The GROHE Group owns 72.3% of Joyou AG, thus Joyou AG…