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.