Glory Ltd. made an offer to acquire 84.18% stake in FueTrek Co., Ltd. for ¥6.1 billion.
September 28, 2018
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Glory Ltd. (TSE:6457) made an offer to acquire 84.18% stake in FueTrek Co., Ltd. (TSE:2468) for ¥6.1 billion on September 28, 2018. Under the terms of transaction, Glory Ltd. will offer to acquire approximately 7.88 million shares in FueTrek Co., Ltd. at ¥770 per share. In a related transaction, Glory Ltd. made an offer to acquire 15.8% stake in FueTrek Co., Ltd. for approximately ¥840 million. After the two tender offers the shares of FueTrek Co., Ltd. will remain listed on the second section of Tokyo Stock Exchange. The offer has been resolved by the Board of Glory Ltd. The tender offer period will begin on November 7, 2018; and end on December 12, 2018.
Ernst & Young Transaction Advisory Services Co., Ltd. acted as a financial advisor and third-party appraiser to Glory Ltd. SMBC Nikko Securities Inc. acted as financial advisor and Oh-Ebashi LPC & Partners acted as legal advisor to FueTrek Co., Ltd. Daiwa Securities Co., Ltd. acted as tender offer agent.
FueTrek Co., Ltd. is a Japan-based company principally engaged in the licensing of software. The License segment is engaged in converting what has been developed and designed into intellectual property rights. The Video and Media segment is a video production business and an advertising agency business that perform planning, production of video such as television programs. The Others segment is the basic business field that performs entrusted development and automotive software development, the transcription business field that provides services that transcribe voice data provided by customers in characters, and the international business field that performs inbound and outbound business.
FUETREK CO., LTD. 
