LIFETIME <LFT> TO BUY SHARES OF NIPPON LACE
Lifetime Corp said it agreed to buy
five mln shares, or 16 pct, of <Nippon Lace Co Ltd> for 3.28
dlrs a share, or 16.5 mln dlrs.
    It said it plans to enter the health care business in
Japan.
    In addition, it said <Koba Electronics Co Ltd>, an
affiliate of Lifetime, will buy four mln unissued shares, or a
12 pct stake, of Nippon for 20 mln dlrs or five dlrs a share.
    The company said Ohta Shoji, chief executive officer of
<Toho Mutual Life Insurance Co>, owns the majority of Koba
Electronics' shares. Toho Mutual Life is also the largest
shareholder in Nippon Lace, the company said.
    Lifetime also said the <Private Bank and Trust of Zurich>,
on behalf of Lifetime director and shareholder Terence Ramsden,
intends to subscribe for two mln shares of Nippon Lace at the
same price paid by Lifetime.
 Reuter
