Arisawa Mfg. Co., Ltd. (TSE:5208) entered into share transfer agreement to acquire remaining 10.5% stake in ThinFlex Corporation (TPEX:3144) for approximately TWD 410 million on July 19, 2021. Under terms of transaction, Arisawa Mfg agree to pay TWD 40 per share which includes cash dividend of TWD 1.6 so the net offer share is TWD 38.4 per share and it currently hold 89.5% stake in TPEX.

Upon the completion of the share transfer,the company will be a 100% owned subsidiary of ARISAWA. Arisawa will fund the transaction from owns funds and Thinflex will reduce management costs and improve competitive advantage and management efficiency. Transaction is subject to Thinflex shareholders approval.

The Board of Directors approved the share transfer plan with Arisawa Manufacturing Co. Ltd. The transaction will not affect the net worth per share and earnings per shares. Transaction is expected to be complete on December 10, 2021.

Diwan & Company acted as accountant and LU, JUI-WEN acted as lawyer for Thinflex. As of September 10, 2021, the deal wa sapproved by shareholders of ThinFlex.