Joyfull Co., Ltd. (FKSE:9942) made an offer to acquire additional 54.19% stake in Friendly Corporation (TSE:8209) for ¥1.6 billion on May 12, 2018. As per terms, offer per share is ¥100 and Joyfull will acquire not less than 15 million and not more than 15.5 million shares of Friendly Corporation. Post-acquisition, Joyfull Co., Ltd. will own 54.2% stake in Friendly Corporation. The Board of Directors of Joyfull Co., Ltd. decided to acquire Friendly Corporation through a tender offer on May 12, 2018. The offer opens on May 14, 2018 and closes on June 11, 2018. Payment date is June 15, 2018. Kotaro Onishi and Motohiro Shibuya of Yodoyabashi & Yamagami Legal Professional Corporation acted as legal advisors and Mizuho Securities Co., Ltd acted as tender offer agent to Friendly Corporation.
Joyfull Co., Ltd. (FKSE:9942) completed the acquisition of an additional 52.44% stake in Friendly Corporation (TSE:8209) for ¥1.5 billion on June 11, 2018. As per terms, Joyfull Co., Ltd acquired 14.96 million shares at ¥100 per share. Post-acquisition, Joyfull Co., Ltd owns 52.45% stake in Friendly Corporation.