Foxconn modify absorption Sharp

Imaginary walk before Sharp AQUOS "s flat-panel TVs in an electronics store in Tokyo, Thursday, February 25, 2016Image copyrightAP
captionSharp Image struggling with heavy debts and went through two main injections
Taiwanese manufacturer Foxconn says it has finally agreed to take on the struggling Japanese electronics company Sharp.

Foxconn said the deal is worth 389bn yen ($ 3.5bn, £ 2,4 billion) and give her a 66% stake in Sharp.

The Foxconn, which assembles most of the iPhones in the world, for the first time offered to invest in the troubled Japanese company in 2012, but the negotiations failed.

Both companies said that the deal will be signed on April 2nd.

This will be the first foreign capture of a major Japanese electronics firm.

Describing himself as a "world-class leaders in the technology industry", the Foxconn and Sharp announced that they will form a "historic strategic alliance."

The innovative firm

Established in 1912, Sharp is one of the oldest Japanese technology firm.

Japanese officials are reluctant to let it fall under foreign ownership because of the distinctive technology behind its display panels.

Prior to the announcement of the deal with Foxconn, Sharp discussing competing proposals from the government-backed consortium of Japanese investors.

Although in recent years there has been decline in his life, the company is still the leader in LCD technology, a key asset for Foxconn.

In 2012, Sharp was close to bankruptcy input. He is struggling with heavy debts and went through two main injections for the past four years.

Sharp innovations include mechanical pencil in 1915 and innovative developments in television technology.