Mainichi Comnet Co. Ltd. completed the acquisition of the student solicitation business for camp driving schools from CLO Co., Ltd.
December 30, 2012 at 11:00 pm EST
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Mainichi Comnet Co. Ltd. (JASDAQ:8908) entered into an agreement to acquire the student solicitation business for camp driving schools from CLO Co., Ltd. on October 25, 2012. Mainichi Comnet will acquire the business through a cash payment to CLO Co., Ltd. The student solicitation business for camp driving schools had sales of ¥141 million for the fiscal year ended March 2012. The transaction was approved by the Board of Directors of Mainichi Comnet Co. Ltd. on October 25, 2012. The transaction is expected to be completed by December 1, 2012. The acquisition is expected to have minimal impact on Mainichi Comnet's business. GCA Savvian Corporation (TSE:2174) acted as financial advisor to CLO Co., Ltd.
Mainichi Comnet Co. Ltd. (JASDAQ:8908) completed the acquisition of the student solicitation business for camp driving schools from CLO Co., Ltd. in December 2012.
MAINICHI COMNET CO., LTD. is a Japan-based company mainly engaged in the real estate solutions business. The Company operates through two business segments. The Real Estate Solution segment is engaged in the development, consulting, rental, management, tenant recruitment and brokerage businesses of rental housing for students, as well as the natural energy generation business. The Student Life Solution segment is engaged in the planning and sale of training camps and general travel for university students mainly in Tokyo, Chiba, Kanagawa and Saitama prefecture, the planning and operation of sports and musical events, the provision of employment information, recruitment consulting, recruitment publicity support, recruitment system, company briefings and employment related seminars to students.
MAINICHI COMNET CO., LTD. 
