Communications firm Invoice Inc. said Wednesday it will buy Livedoor Co.'s stake in condominium developer Dynacity Corp. in a deal that will help the struggling Internet services group eliminate noncore businesses.
Invoice's board agreed to buy an 11.38 percent stake in Dynacity from the Livedoor group as well as convertible bonds and equity warrants.
Invoice would be able to obtain about 78 percent of the outstanding shares in Dynacity and turn the company into a subsidiary if it converts the bonds and uses the warrants.
Invoice and Livedoor have not decided on the value of the deal, but Livedoor welcomed the offer, saying it will give preferential treatment in talks if certain conditions are met.
Dynacity is expected to become Livedoor's first listed group firm to be sold. Its group companies have expressed willingness to weaken their ties with Livedoor.