Saibu Gas Co., Ltd. completed the acquisition of 51% stake in STrust Co.,Ltd..
February 19, 2017
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Saibu Gas Co., Ltd. (TSE:9536) made a bid to acquire 51% stake in STrust Co., Ltd. (TSE:3280) for approximately ¥2.2 billion on January 23, 2017. Saibu Gas will acquire 3.1 million shares of STrust Co. for ¥800 per share from January 24, 2017 to February 20, 2017. Saibu Gas will not bid for more than 3.1 million shares of STrust Co. in the deal. The deal is expected to close on February 20, 2017 and settlement date is February 24, 2017. There were 3.4 million shares were offered during the bidding period.
Saibu Gas Co., Ltd. (TSE:9536) completed the acquisition of 51% stake in STrust Co., Ltd. (TSE:3280) on February 20, 2017. At the close of the tender offer on February 20, 2017, Saibu Gas Co. received acceptances from shareholders representing 3.4 million shares of STrust Co.
STrust Co., Ltd. is a Japan-based company mainly engaged in the real estate sale business in Yamaguchi and Kyushu Area. The Company operates in three business segments. The Real Estate Sale segment is mainly engaged in the planning, development and sale of apartment buildings. The Real Estate Management segment is engaged in the apartment management, property insurance agency business, as well as sale of interior products. The Real Estate Leasing segment is engaged in leasing of offices and commercial facilities. The others business is engaged in sale and brokerage of real estate.