Snow Peak, Inc. (TSE:7816) entered into an agreement to acquire 13.7% stake in Tiemco Ltd. (JASDAQ:7501) from Sadahiko Sakai for approximately CNY 190 million on April 10, 2019. Under the terms of the transaction, Snow Peak, Inc. will acquire 0.34 million shares. Currently, Sadahiko Sakai holds 20.71% stake in Tiemco Ltd. The transaction was resolved by the Board of Snow Peak, Inc. on April 10, 2019. The transaction is expected to close on April 11, 2019.

Snow Peak, Inc. (TSE:7816) cancelled the acquisition of 13.7% stake in Tiemco Ltd. (JASDAQ:7501) from Sadahiko Sakai on April 10, 2020.