NS United Kaiun Kaisha, Ltd. completed the acquisition of remaining 43.96% stake in NS United Naiko Kaiun Kaisha, Ltd..
July 28, 2015
Share
NS United Kaiun Kaisha, Ltd. (TSE:9110) concluded a contract to acquire remaining 43.96% stake in NS United Naiko Kaiun Kaisha, Ltd. (JASDAQ:9180) for ¥2.7 billion in stock on May 21, 2015. As reported, one share of NS United Naiko Kaiun Kaisha, Ltd will be exchanged for 2.15 shares of NS United Kaiun Kaisha. A meeting of shareholders of NS United Naiko Kaiun Kaisha, Ltd will be held on June 25, 2015 to approve the transaction. The Board of NS United Kaiun Kaisha and NS United Naiko Kaiun Kaisha approved the transaction on May 21, 2015. The deal is expected to close on August 1, 2015. NS United Naiko Kaiun Kaisha will be delisted from stock exchange on July 29, 2015.
Mizuho Securities acted as the third-party appraiser and Kitamura & Hiraga acted as the legal advisor to NS United Kaiun Kaisha. AGS Consulting acted as the third-party appraiser and Torikai Law Office acted as the legal advisor to NS United Naiko Kaiun Kaisha, Ltd.
NS United Kaiun Kaisha, Ltd. (TSE:9110) completed the acquisition of remaining 43.96% stake in NS United Naiko Kaiun Kaisha, Ltd. (JASDAQ:9180) on July 29, 2015.
NS UNITED KAIUN KAISHA, LTD. is a Japan-based company mainly engaged in the marine business. The Company operates through two business segments. The International Marine Transportation segment is engaged in the transportation of iron ore, coal, steel products and nonferrous ore by bulk carriers, the transportation of crude oil and liquefied petroleum gas (LPG) by tanker, as well as the leasing of ships. The Domestic Marine Transportation segment is engaged in transportation of iron product, limestone, and cement by bulk carriers in domestic waters, the transportation of LPG and liquefied natural gas (LNG) by tankers, as well as the lending of vessels. The other business provides land transportation and information service.