CREA HOLDINGS,Inc. entered into a share exchange agreement to acquire Onsite Screen Co., Ltd. from CAVA Planning Co., Ltd for ¥5.3 billion.
January 13, 2021
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CREA HOLDINGS,Inc. (TSE:1757) entered into a share exchange agreement to acquire Onsite Screen Co., Ltd. from CAVA Planning Co., Ltd for ¥5.3 billion on January 14, 2021. Under the terms of the transaction, CREA will issue a total of 49.2 million CREA shares at a ratio of 0.82 million CREA shares for each share of Onsite. Onsite reported net assets of ¥ 2 million in the year ending on May 2020. The deal was approved by the Board of Directors of CREA. The transaction is subjected to approval from shareholders of CREA HOLDINGS,Inc. The transaction is expected to complete on February 4, 2021. The deal has been postponed and the date is undecided. As on March 23, 2021, the transaction has been postponed because the general meeting of shareholders could not be consulted by March 23, 2021.
Souken Ace Co Ltd is a Japan-based company mainly engaged in construction business, automobile-related business, cosmetic hygiene-related business. The Company operates through three segments. The Construction Business segment is engaged in housing renovation/maintenance work and construction work. The Automobile-related Business segment develops, manufactures and sells automobile related products. The Cosmetic Hygiene-related Business segment is engaged in the sale of cosmetic products and hygiene related products. The Company is also engaged in investment business and real estate business.