Rakuten, Inc. completed the acquisition of remaining 67.5% stake in Stylife Corporation from BURNEDEST Japan Limited, Parco Co. Ltd., Kowa Company, Ltd. and others.
March 20, 2013
Share
Rakuten, Inc. (JASDAQ:4755) made an offer to acquire the remaining 67.5% stake in Stylife Corporation (JASDAQ:3037) from BURNEDEST Japan Limited, Parco Co. Ltd. (TSE:8251), Kowa Company, Ltd. and others for ¥1.1 billion on February 4, 2013. Rakuten, Inc. is also acquiring 379 warrants of Stylife Corporation for ¥1. Rakuten will acquire each share of Stylife Corporation for ¥0.074 million. The offer shall run from February 5, 2013 to March 21, 2013. Pursuant to the transaction, Stylife Corp will delist its stock from the Jasdaq market of the Osaka Securities Exchange. As on February 5, 2013, BURNEDEST has decided to sell it 4,108 shares of Stylife in the tender offer. The date of change is scheduled on March 28, 2013. The transaction is expected to have a minimal impact on the results of Samantha Thavasa Japan Limited.
As of March 21, 2013, Rakuten, Inc. acquired 0.02 million shares in Stylife Corporation. Parco Co. Ltd. sold its entire 15% stake in the transaction. As a result, Rakuten Inc has increased its stake in Stylife Corp from a 31.94% stake to a 93.23% stake. Rakuten will eventually turn Stylife into a wholly owned unit, with Stylife set to be delisted from the Osaka Securities Exchange's Jasdaq market. Mizuho Securities Co., Ltd. acted as financial advisor and Nagashima Ohno & Tsunematsu acted as legal advisor to Stylife Corporation. Daiwa Securities Co., Ltd. acted as financial advisor and Uryu & Itoga acted as legal advisor to Rakuten, Inc.
Rakuten, Inc. (JASDAQ:4755) completed the acquisition of remaining 67.5% stake in Stylife Corporation (JASDAQ:3037) from BURNEDEST Japan Limited, Parco Co. Ltd. (TSE:8251), Kowa Company, Ltd. and others on March 21, 2013. Kowa Company tendered 1647 shares of Stylife Corporation.
Digital Holdings Inc, formerly OPT Holding Inc is a Japan-based company principally engaged in the Internet advertising business. The Company operates in two business segments. The Marketing segment provides Internet advertising for large companies, digital marketing, related services, and digital marketing solutions for local small and medium enterprises. The Synergy Investment segment is involved in the investment in Internet-related venture companies, the information collecting in the United States, the development of artificial intelligence (AI) and AI platforms, the provision of digital shift support education services for companies, and the general trade operated in China.
Rakuten, Inc. completed the acquisition of remaining 67.5% stake in Stylife Corporation from BURNEDEST Japan Limited, Parco Co. Ltd., Kowa Company, Ltd. and others.
DIGITAL HOLDINGS, INC. 