AGORA Hospitality Group Co., Ltd cancelled the acquisition of Namba Hotel Operations Co., Ltd.
July 11, 2020
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AGORA Hospitality Group Co., Ltd (TSE:9704) signed a contract to acquire Namba Hotel Operations Co., Ltd. on July 11, 2019. Under the terms of the transaction, AGORA Hospitality Group Co., Ltd will acquire 0.06 million shares of Namba Hotel Operations Co., Ltd. Namba Hotel Operations Co., Ltd. reported sales of ¥1.1 billion for the year ended December 2018. The transaction was resolved by AGORA Hospitality Group Co., Ltd on July 11, 2019. The transaction is expected to close by the end of August 2019.
AGORA Hospitality Group Co., Ltd (TSE:9704) cancelled the acquisition of Namba Hotel Operations Co., Ltd. on July 11, 2020.
Agora Hospitality Group Co Ltd, formerly AGORA Hospitality Group Co Ltd, is a Japan-based company mainly engaged in hospitality business and other investment business. The Company operates through two business segments. The Hospitality Business segment is engaged in the operation of the Izu Imaihama-Onsen Imaiso, Hotel Agora Osaka Moriguchi, Hotel Agora Regency Sakai, Agora Place Asakusa, and Agora Kanazawa. The Other Investment Business segment is engaged in the housing real estate development business in Australia, management of Lauan Memorial Park as a cemetery business in Malaysia, and investment business in stocks, receivables and other financial products.