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Manitou buys back 2.8% of its share capital from Toyota Industries Corporation

By Tom Stone29th July 20161 Min Read

Manitou BF announced today (29 July) that Manitou BF and Toyota Industries Corporation have signed an agreement relating to the purchase by Manitou BF of a block of 1,120,000 of its own shares at a unit negotiated price of 13.38 (US$14.87) and representing approximately 2.8% of its share capital.

These shares have been purchased from Toyota Industries Corporation in an off-market block trade transaction for a total negotiated amount of 14,985,600 (US$16,620,500).

The purchase of these shares follows the termination of the industrial partnerships between the two companies which occurred in December 2014.

The buyback effectively means that TICO is no longer one of Manitou’s shareholders.

July 29, 2016

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Tom Stone

Tom Stone is Editor of the iVT brand – which includes digital and print editions of a quarterly magazine and the Advanced Lift-truck supplement, as well as ivtinternational.com, which is updated daily. Tom has met and interviewed some of the world's leading industrial vehicle OEM presidents, CEOs and MDs, and takes great pride in cementing iVT's place as the leading forum for debate within the industry, a reputation that his been built up over the brand's 25-year history.