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Business deals

Sony completes $3.7bn takeover of financial unit

Company's face-to-face insurance marketing efforts stymied by coronavirus

Complete control of the financial firm will make it easier for Sony to make deals.   © Reuters

TOKYO -- Sony has wrapped up its full buyout of listed subsidiary Sony Financial Holdings, the Japanese tech group said Tuesday, spending 400 billion yen ($3.73 billion) to gain the leverage for enacting swift reforms in the unit.

The tender offer, conducted between May 20 and Monday, acquired the remaining 35% of shares in Sony Financial. The unit will be delisted from the Tokyo Stock Exchange.

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