Mitsui O.S.K. Lines, Ltd. (TSE:9104) made an offer to acquire remaining 33.13% stake in Utoc Corporation (TSE:9358) for ¥10.4 billion on November 30, 2021. As per terms of transaction, Mitsui O.S.K. Lines, Ltd. will pay ¥725 for 14,327,663 shares in Utoc. Offer period will begin on December 1, 2021, and will end on January 18, 2021. Mori Hamada & Matsumoto LPC acted as legal advisor and The Goldman Sachs Group, Inc. (NYSE:GS) acted as financial advisor to Mitsui O.S.K. Lines, Ltd. SMBC Nikko Securities Inc. acted as Tender Offer agent to Mitsui O.S.K. Lines, Ltd. Keiji Hatano of Sullivan & Cromwell LLP (Japan) acted as leagl advisor to Mitsui O.S.K. Lines, Ltd.

Mitsui O.S.K. Lines, Ltd. (TSE:9104) completed the acquisition of an additional 28.18% minority stake in Utoc Corporation (TSE:9358) for ¥8.8 billion on January 18, 2022. At the close of Offer on January 18, 2022, 12,187,329 shares were validly tendered under the Offer. Post transaction, Offeror holds 41,106,855 shares representing 95.1%stake in Utoc.