Koito Manufacturing Co., Ltd. completed the acquisition of remaining 49.8% stake in KI Holdings Co., Ltd..
June 11, 2019
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Koito Manufacturing Co., Ltd. (TSE:7276) made a tender offer to acquire the remaining 49.8% stake in KI Holdings Co., Ltd. (TSE:6747) for ¥9.4 billion on April 23, 2019. Under the terms, Koito Manufacturing will acquire 20.6 million shares at ¥455 per share. post acquisition, Koito Manufacturing will hold 100% stake in KI Holdings. The transaction is subject to a minimum tender to purchase 6.8 million shares. The tender offer has been resolved by the Board of Koito Manufacturing on April 23, 2019. Board of Directors of KI Holdings Co., Ltd., expressed its opinion in favor of the tender offer and resolved to recommend all shareholders to apply for the tender offer. The tender offer will run from April 24, 2019 to June 12, 2019.
SMBC Nikko Securities Inc. acted as financial advisor for Koito Manufacturing, Nomura Securities Co., Ltd. acted as financial advisor for KI Holdings and Nomura & Partners acted as legal advisor for KI Holdings in the transaction. Nishimura & Asahi acted as legal advisor for Koito Manufacturing.
Koito Manufacturing Co., Ltd. (TSE:7276) completed the acquisition of remaining 49.8% stake in KI Holdings Co., Ltd. (TSE:6747) on June 13, 2019.
KOITO MANUFACTURING CO., LTD. is mainly engaged in the manufacture and sale of automotive lighting equipment, aircraft parts, railway vehicles parts, electrical equipment and measuring equipment. The Company mainly operates in six segments, including Japan, China, Asia, North America, Europe and Others. The Companyâs major products include light-emitting diode (LED) head lamps, discharge head lamps, headlights, sign lamps, high mount stop lamps, halogen bulbs, miniature bulbs and other lamp fittings, control equipment for rail vehicles, roads traffic signals, traffic control systems, roads and tunnels illumination lamps, facilities illumination lamps, accommodation equipment, aircraft parts, electronic parts, head lamps cleaners, sheets for aircraft and rail vehicles, as well as environment control equipment. The Company is also engaged in the development and manufacture of forward monitoring operation support systems for advanced driver-assistance systems (ADAS) through subsidiary.
KOITO MANUFACTURING CO., LTD. 
