Adastria Co., Ltd. (TSE:2685) made an offer to acquire an additional 25.7% stake in Zetton Inc. (NSE:3057) from Kenichi Inamoto, Shinsuke Suzuki and others for ¥1.6 billion on December 14, 2021. Adastria will acquire 1.668 million Zetton shares at a price of ¥950 per share in cash. Inamoto and Suzuki executed a tender offer agreement to tender 241,500 shares and 35,000 shares in the transaction, respectively. Transaction is subject to minimum tender of 958,600 shares and maximum tender of 1,668,000 shares, completion of subscription of new Zetton shares by Adastria Co., Ltd. The board of directors of Zetton unanimously agreed to the Tender Offer. Offer will commence on January 4, 2022, and will end on February 16, 2022.

Mita Securities Co., Ltd. acted as tender offer agent in the transaction. iwaida partners acted as legal advisor to Zetton. Plutus Consulting Co., Ltd. acted as fairness opinion provider to Adastria Co., Ltd.

Adastria Co., Ltd. (TSE:2685) completed the acquisition of an additional 25.7% stake in Zetton Inc. (NSE:3057) from Kenichi Inamoto, Shinsuke Suzuki and others on February 16, 2022.