Tohoku Electric Power Company, Incorporated completed the acquisition of remaining 13.9% stake in Tohoku Energy Service Co.,Inc. from Yurtec Corporation, Tohoku Electric Power Engineering & Construction Co.,Inc. and Mitsubishi Electric Corporation.
April 29, 2017
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Tohoku Electric Power Company, Incorporated (TSE:9506) agreed to acquire remaining 13.9% stake in Tohoku Energy Service Co.,Inc. from Yurtec Corporation (TSE:1934), Tohoku Electric Power Engineering & Construction Co.,Inc. and Mitsubishi Electric Corporation (TSE:6503) on March 21, 2017. Under the terms of transaction, Tohoku Electric Power Company, Incorporated will acquire 5.4% stake from Yurtec Corporation, 4.2% stake from Tohoku Electric Power Engineering & Construction Co.,Inc. and 3.1% stake from Mitsubishi Electric Corporation in Tohoku Energy Service Co.,Inc. Upon completion Tohoku Energy Service Co.,Inc. will become wholly owned subsidiary of Tohoku Electric Power Company, Incorporated. The transaction is expected to be completed by April 3, 2017.
Tohoku Electric Power Company, Incorporated (TSE:9506) completed the acquisition of remaining 13.9% stake in Tohoku Energy Service Co.,Inc. from Yurtec Corporation (TSE:1934), Tohoku Electric Power Engineering & Construction Co.,Inc. and Mitsubishi Electric Corporation (TSE:6503) in April, 2017.
Yurtec Corp is primarily engaged in the facility construction business. The Company operates its business through the Facility Construction segment. The Facility Construction segment is engaged in electrical, telecommunications, civil engineering, building construction, air-conditioning pipe installation, and other general facility construction work. The Company also provides security services, real estate management, leasing of construction equipment and vehicles, waste disposal, production and sales of mineral water, and wholesale supply of solar-powered electricity.
Tohoku Electric Power Company, Incorporated completed the acquisition of remaining 13.9% stake in Tohoku Energy Service Co.,Inc. from Yurtec Corporation, Tohoku Electric Power Engineering & Construction Co.,Inc. and Mitsubishi Electric Corporation.
YURTEC CORPORATION 
