Belluna Co., Ltd. completed the acquisition of 89.7% stake in Sagami Group Holdings Co.,Ltd. from AG No. 2 Investment Limited Partnership, fund managed by Aspirant Group, Inc. and others for ¥5.3 billion.
June 18, 2018
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Belluna Co., Ltd. (TSE:9997) made an offer to acquire Sagami Group Holdings Co.,Ltd. (TSE:8201) from AG No. 2 Investment Limited Partnership, fund managed by Aspirant Group, Inc. and others for ¥5.9 billion on May 7, 2018. Under the terms of the transaction, Belluna Co., Ltd. offered to acquire minimum of 21.99 million shares and maximum of 39.6 million shares at ¥150 per share. Belluna Co., Ltd. entered into an agreement with AG No. 2 Investment Limited Partnership, fund managed by Aspirant Group, Inc. for 21.99 million shares on May 7, 2018. As a result of the transaction, Sagami Group Holdings Co.,Ltd. will become a wholly owned subsidiary of Belluna Co., Ltd. and will be delisted from stock exchange. The transaction is subject to minimum tender of 21.99 million shares. On May 7, 2018, the Board of Directors of Sagami Group Holdings Co.,Ltd. approved the transaction and recommended the transaction to shareholders. The tender offer period is from May 8, 2018 to June 18, 2018. The settlement will start from June 22, 2018.
SMBC Nikko Securities Inc. acted as financial advisor and Momo-o, Matsuo & Namba acted as legal advisor to Sagami Group Holdings Co.,Ltd. Plutus Consulting Co., Ltd. calculated the value of shares and MITA SECURITIES Co., Ltd. acted as tender offer agent.
Belluna Co., Ltd. (TSE:9997) completed the acquisition of 89.7% stake in Sagami Group Holdings Co.,Ltd. (TSE:8201) from AG No. 2 Investment Limited Partnership, fund managed by Aspirant Group, Inc. and others for ¥5.3 billion on June 18, 2018.
BELLUNA CO.,LTD. is a Japan-based company mainly engaged in the mail order business. The Company operates through seven business segments. General Mail Order segment is involved in the sale of lifestyle related products such as clothing, household goods and furniture, as well as the provision of the related business. Specialty Mail Order segment is involved in the sale of single items, as well as the sale of products specialized for specific customers. Store Sales segment is involved in the sale of clothing and kimono-related products. Solution segment is involved in the consignment business. Finance segment in involved in the provision of consumer finance business for mail order business customers. Property segment mainly includes real estate leasing business, real estate revitalization and development business and hotel business. Other segment is involved in the renting and wholesale of clothing, as well as the operation of golf courses.
Belluna Co., Ltd. completed the acquisition of 89.7% stake in Sagami Group Holdings Co.,Ltd. from AG No. 2 Investment Limited Partnership, fund managed by Aspirant Group, Inc. and others for ¥5.3 billion.
BELLUNA CO., LTD. 