Most You Co., Ltd completed the acquisition of 89.3% stake in Urai Co.,Ltd. from Freesia Macross Corporation, Urai Co. Ltd., ESOP and others.
December 24, 2015 at 11:00 pm EST
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Most You Co., Ltd made an offer to acquire Urai Co.,Ltd. (JASDAQ:2658) from Freesia Macross Corporation (TSE:6343), Urai Co. Ltd., ESOP and others for ¥2.9 billion on November 11, 2015. Under the terms, the Kyoto-based company will pay ¥270 per share. According to the offer, minimum number to be purchased is 7.15 million shares. The offer will run from November 12, 2015 to December 25, 2015. The settlement will start on January 5, 2016. The deal is expected to be completed by January 5, 2016.
Daiwa Securities Co., Ltd. acted as the tender offer agent and financial advisor to Urai Co.,Ltd. Yamada & Partners Certified Public Tax Accountants acted as independent third party appraiser for Most You Co., Ltd and Urai Co.,Ltd. Oh-Ebashi LPC acted as the legal advisor to Urai Co.,Ltd.
Most You Co., Ltd completed the acquisition of 89.3% stake in Urai Co.,Ltd. (JASDAQ:2658) from Freesia Macross Corporation (TSE:6343), Urai Co. Ltd., ESOP and others on December 25, 2015.
FREESIA MACROSS CORPORATION is a Japan-based company primarily engaged in residential-related construction works. The Company has three business segments. The Manufacture and Supply division is engaged in the manufacture and sale of plastic extrusion machinery, civil engineering testing devices, cabinets for automated teller machines (ATMs), as well as paper, aluminum containers and food containers and others. The Housing-related division is engaged in the planning, investigation, design, construction, supervision and sale of log houses and Swedish houses; the manufacture, import and sale of furniture and related equipment; the waterproofing works, heat insulation works and other housing-related construction works, as well as the trade, leasing and management of real estate properties. The Investment and Distribution Service division is involved in the purchases and sale of computers, peripherals, parts and software, as well as other investment business.