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Sony Sells Olympus Shares But Will Continue Business Alliance

Sony has sold its remaining shares in Olympus, stating that the alliance between them has achieved what it set out to do.

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Sony Sells Olympus Shares But Will Continue Business Alliance: Olympus Sony

Sony has sold its remaining 5% stake in Olympus but has said that it will continue with its business alliance. 

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Sony invested in Olympus back in 2012, buying an 11.5% stake in the company. Some of this was sold off in 2015, with the remaining 5% being bought back by Olympus recently. Sony bought the shares in the wake of the accounting scandal, and the cash injection helped to keep Olympus afloat in troubled times. 

With the money, the companies set up Sony Olympus medical solutions, and they say that despite the sale of the shares, this venture will continue as a business alliance and collaborative partnership. 

Sony has reportedly made a total of $120m US dollars from the original total investment, which cost the equivalent of $47m back in 2012. More information on this deal can be found on the Sony website

[via DPreview]

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