Eisai to transfer subsidiary shares to Bosch Group

Eisai has announced plans to transfer the total stock and shares in four of its subsidiary companies to the Bosch Group.

According to a statement, the Japanese pharmaceutical firm has entered into an asset purchase agreement over the four subsidiaries that comprise its machinery business.

The transfer of all shares and equity from the four companies is scheduled to take place on March 30th 2012.

Outlining the reasons for the transfer of shares, Eisai's statement explained that the firm wanted to establish a "strategic alliance with a company that possesses state-of-the-art production technology and know-how".

It added that the agreement will allow Eisai to "further focus its resources on its pharmaceutical business" in order to boost innovation and increase corporate value.

Eisai said the transaction will have "only a minor impact" on its consolidated business performance.

Headquartered near Stuttgart in Germany, Bosch is a multinational engineering and electronics company that makes a variety of automotive components and consumer goods.