Japan Industrial Partners, Inc. made an offer to acquire 55.1% stake in Nippon Avionics Co., Ltd. (TSE:6946) from NEC Corporation (TSE:6701) and others for ¥1.7 billion on July 31, 2019. NEC Corporation (TSE:6701) concluded the contact to apply for all shares in the tender offer. Under the terms of the transaction the buyer offered to acquire 1.56 million shares at ¥1,100 per share. The buyer will purchase a minimum of 1.42 million shares. The deal is subject to approval by Board of Directors of Nippon Avionics Co., Ltd. The offer will run from December 20, 2019 to January 24, 2020. Nakamura, Tsunoda & Matsumoto acted as legal advisor to the Board of Directors of Avionics Co., Ltd. DC Advisory acted as financial advisor for NEC.