SHCAY Sharp Corporation (PK)

Sharp Corp. (SHCAY) will submit an asset appraisal report to its banks next month to identify businesses the company has to sell in return for funding, the Reuters news agency said Monday on its website, citing unnamed sources at the lenders.

The report is being compiled by two consultants, including PricewaterhouseCoopers, and until the report is ready, Sharp will receive tens of billions of yen in stopgap financing from Mizuho Financial Group and Mitsubishi UFJ Financial Group, the report quoted the sources as saying.

PricewaterhouseCoopers spokeswoman Machiko Wantanbe told the news agency the company didn't have a comment at the moment. It is unclear if Sharp was approached for comment.

Full Story: http://www.reuters.com/article/2012/08/20/sharp-banks-idUSL4E8JK10N20120820

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