Asia Digest: Konica Minolta to buy Ambry Genetics; POSCO to sell KB Financial shares

Employees of POSCO walk out of the company’s headquarters in Seoul July 22, 2011. Photo: Reuters

Konica Minolta to buy Ambry Genetics, deal worth up to $1b

Japan’s Konica Minolta said on Thursday it was purchasing U.S.-based testing company Ambry Genetics in a deal valued at up to $1 billion.

In a transaction that will be partially funded by a Japanese state-backed fund, it said that $800 million would paid in cash upon closure of the deal while $200 million could be paid over two years depending on financial performance.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter