AE Food and Diner Co., Ltd. agreed to acquire food business from Village Vanguard CO.,LTD. (JASDAQ:2769) for ¥650 million on June 22, 2017. As per the terms of the transaction, Village Vanguard CO.,LTD. will receive ¥650 million in cash from AE Food and Diner Co., Ltd. and on the effective date of the company split, the company will acquire 20 shares representing 10% stake of AE Foods shares to be paid in cash. The transaction is subject to approval by AE Food and Diner shareholder approval. As of June 22, 2017, Board of Village Vanguard CO.LTD. resolved the transaction. The transaction is expected to close on August 1, 2017. F&Link Co., Ltd. acted as appraiser for Village Vanguard CO.,LTD. in the transaction.