Asahi Tec to brief on Metaldyne deal at 0830 GMT

Newswire

TOKYO, Sept 1 (Reuters) - Japanese auto parts maker Asahi Tec Corp. said on Friday it would hold a news conference to brief on its plan to acquire unlisted U.S. rival Metaldyne Corp. at 5:30 p.m. (0830 GMT) in Tokyo. A source close to the deal said Asahi Tec, owned 63 percent by RHJ International , the holding company of U.S. buyout firm Ripplewood Holdings, will buy all the shares in Metaldyne for 100 billion yen ($853.5 million), while also taking on its debt. ($1=117.16 Yen)

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