G.taste Co.,Ltd. completed the acquisition of Sakai Co., Ltd. from G. Communication Co., Ltd., Tsuyoshi Higuchi, ARIAKE JAPAN Co., Ltd., Omitsu Co., Ltd and others.
July 29, 2013 at 12:00 am EDT
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G.taste Co.,Ltd. (JASDAQ:2694) entered into an agreement to acquire Sakai Co., Ltd. from G. Communication Co., Ltd., Tsuyoshi Higuchi, ARIAKE JAPAN Co., Ltd. (TSE:2815), Omitsu Co., Ltd and others for ¥3.2 billion in stock on May 15, 2013. As part of consideration, 2 shares of common stock of G.taste will be issued for each share of Sakai. Pursuant to the transaction, Sakai Co., Ltd. will be dissolved.
The Board of Directors of G.taste has resolved to undertake the transaction on May 15, 2013. The transaction is subject to approval by the shareholders of G.taste at a meeting to be held on June 26, 2013 and by the shareholders of Sakai Co., Ltd. at a meeting to be held on June 27, 2013. The creditors can object from June 28, 2013 to July 31, 2013 and the transaction is expected to close on August 1, 2013. Katsumi Kitamura of Atsushi Shiraishi Law Firm acted as legal advisor and Albaace Securities Co., Ltd. acted as financial advisor to G.taste Co.,Ltd. Matsuyama Certified Public Accountants acted as financial advisor and Harashima Law Firm acted as legal advisor for Sakai.
G.taste Co.,Ltd. (JASDAQ:2694) completed the acquisition of Sakai Co., Ltd. from G. Communication Co., Ltd., Tsuyoshi Higuchi, ARIAKE JAPAN Co., Ltd. (TSE:2815), Omitsu Co., Ltd and others on July 29, 2013.
Yakiniku Sakai Holdings Inc, formerly G.taste Co Ltd, is a Japan-based company mainly engaged in the operation of restaurants. The Company is engaged in the operation of chain stores named Heiroku Sush, Toriaezu Gohei, Murasaki, Yakinikuya Sakai, Nikusho Sakai, Omuraisutei, Nagasaki chan men and others, as well as the sale of products to franchisees operating under the same names. The Company is also engaged in the operation of restaurants named TONKOU, a Chinese restaurant; Shabu-Shabu Shimizu, a shabu-shabu restaurant; TEN.FOUR, a pizza manufacturing, home delivery and over-the-counter sales store; Kabenoana, an Italian restaurant; Shichifuku, a sushi and seafood izakaya restaurant; World Gourmet Junction, a food court; Dominique Buschet Tokyo and Le Copan de Dominique Busche, which are French restaurants.
G.taste Co.,Ltd. completed the acquisition of Sakai Co., Ltd. from G. Communication Co., Ltd., Tsuyoshi Higuchi, ARIAKE JAPAN Co., Ltd., Omitsu Co., Ltd and others.
YAKINIKU SAKAI HOLDINGS INC. 