Hakuhodo Zeta Inc. made an offer to acquire 78.81 % stake in Growww Media Co., Ltd. (TSEC:8497) from Guanglimei Co., Ltd., Anding Co., Ltd., Chuangjing Co., Ltd. and others for TWD 1.9 billion on February 25, 2020. As a part of the transaction, Hakuhodo Zeta Inc will acquire 26.86 million shares of Growww Media shares at TWD 69 per share. The acquisition amount will be covered entirely with the Hakuhodo Zeta Inc own funds. The board of Hakuhodo Zeta Inc has resolved the transaction. Hakuhodo Zeta Inc plans to further implement an all cash share swap following the completion of the tender offer for the purpose of acquiring all the shares of Growww Media. Hakuhodo Zeta Inc. intends to make GROWWW Media a wholly owned subsidiary. Tender offer is subject to the prior approval of the Investment Commission of the Taiwan Ministry of Economic Affairs and minimum of 50% acquisition. In the event that the IC approval is not granted by April 15, 2020, the tender offeror may extend the tender offer period by a maximum of 50 days. On April 13, 2020 Investment Commission of the Taiwan Ministry of Economic Affairs approved the transaction. Minimum Threshold has been achieved as well, and all the conditions of the tender offer have been met. The tender offer will commence from February 26, 2020 to April 15, 2020. Nomura International Plc acted as financial advisor to Growww Media Co., Ltd. KGI Securities Co., Ltd acted as financial adviser for Hakuhodo Zeta Inc. Hakuhodo Zeta Inc. completed the acquisition of 78.81 % stake in Growww Media Co., Ltd. (TSEC:8497) from Guanglimei Co., Ltd., Anding Co., Ltd., Chuangjing Co., Ltd. and others on April 27, 2020.