Sony to invest US$645 million in scandal-hit Olympus

Electronics giant Sony will invest 50 billion yen (US$645 million) in scandal-tainted Olympus, the firms said Friday, as they both look to turn the page on disastrous chapters.

The investment will make cash-bleeding Sony the single biggest shareholder in Olympus, with slightly more than 11 percent of its outstanding stock.

The companies will also establish a joint venture to develop endoscopes, with the focus on a type used in keyhole surgery, the statements said.

via Business feed http://www.scmp.com/business/companies/article/1049465/sony-invest-us645-million-scandal-hit-olympus