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TOKYO (AP) - Goldman Sachs Group Inc. and other investors won Sanyo Electric Co. shareholders' approval Friday to invest a total of 300 billion yen ($2.58 billion) in the ailing electronics maker via preferred shares.
Sanyo Electric shareholders approved the share issue plan at their extraordinary meeting in Osaka, said Ryan Watson, a company spokesman.
Goldman Sachs and a unit of Daiwa Securities SMBC will each buy 125 billion yen ($1.07 billion) worth of the new shares, becoming Sanyo's top shareholders with each holding 24.5 percent of voting rights.
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