Giken Ltd. (TSE:6289) agreed to acquire 50.1% stake in J Steel Group Pty Ltd. from PAKEFX Pty Limited and Bertrams Trading Pty Limited for AUD 11 million on November 17, 2017. Under the terms of transaction, Giken Ltd. will acquire 1.0 million shares in J Steel Group Pty Ltd. For the year ended June 30, 2017, J Steel Group Pty Ltd. reported total assets of AUD 243 million, net assets of AUD 138.5 million, revenue of AUD 348.9 million and net profit of AUD 9.1 million. The transaction has been resolved by Board of Giken Ltd. The conclusion of the share transfer contract is expected to take place in late November 2017. The transaction is expected to be completed by early to mid-December 2017. Giken Ltd. (TSE:6289) completed the acquisition of 50.1% stake in J Steel Group Pty Ltd. from PAKEFX Pty Limited and Bertrams Trading Pty Limited on December 13, 2017.