Brother Industries, Ltd. completed the acquisition of an additional 36.64% stake in Nissei Corporation.
Nissei Corporation will continue to be listed after the tender offer. The transaction has been resolved by Board of Directors of Brother Industries, Ltd. The transaction has been approved by Board of Directors of Nissei Corporation. The transaction is still subject to approval by Board of Directors of Brother Industries but still is subject to various approvals by antitrust authorities. The transaction is expected to close by January 30, 2013. GCA Savvian Corporation acted as financial advisor to Brother Industries, Ltd. City-Yuwa Partners acted as legal advisors to Nissei Corporation. Nomura Securities Co., Ltd. acted as tender offer agent to the transaction.
Brother Industries, Ltd. (TSE:6448) completed the acquisition of an additional 36.64% stake in Nissei Corporation (TSE:6271) on January 23, 2013. Brother Industries acquired 10.16 million shares from the total shares tendered amounting to 15.79 million on a pro-rata basis. Brother Industries acquired 91 shares of Nissei Corporation from the excess shares tendered.