Pioneer to receive $538-million bailout from Baring

Jamie McKane

MyBroadband Journalist
Staff member
Super Moderator
Joined
Mar 2, 2016
Messages
5,408
Pioneer to receive $538-million bailout from Baring

Pioneer Corp., once among the world’s hottest names in technology before succumbing to debt and failed expansions, agreed to a bailout from Baring Private Equity.

Baring Private Equity will buy as much as 60 billion yen ($538 million) of stock in the Tokyo-based company, according to a filing on Wednesday. But its shares fell 9.3 percent to their lowest in nine years after the company said the deal wasn’t legally binding, though executives told reporters they hoped to clinch an agreement by October.

[Bloomberg]
 

jannievanzyl

Telecoms expert
Joined
Jun 14, 2009
Messages
5,022
Indeed, Pioneer was one of the leading developers of high end audio equipment, though in SA it was never positioned as such.
 

gamer16

Honorary Master
Joined
Nov 3, 2013
Messages
11,925
Indeed, Pioneer was one of the leading developers of high end audio equipment, though in SA it was never positioned as such.
They made some damn good subs for car audio. Still do, for the price that is.
 

absynth

Expert Member
Joined
Jan 15, 2010
Messages
1,412
Pioneer mixers and players the standard for music and festival events.
 

LCBXX

Honorary Master
Joined
Apr 11, 2006
Messages
11,179
I have and still am a big fan of Pioneer's audio equipment. It is rather tragic to see them struggling. Perhaps they need to merge with Yamaha?
 

freddster

Expert Member
Joined
Dec 13, 2013
Messages
2,471
Indeed, Pioneer was one of the leading developers of high end audio equipment, though in SA it was never positioned as such.
Because all the rubbish these days are brought into SA. Still have a Pioneer Hifi systm from 1980 working perfectly. Turntable from 70s...
 
Top