Aslead Growth Impact Fund and Aslead Strategic Value Fund, managed by Aslead Capital Pte. Ltd. offered to acquire remaining 83.2% stake in Fuji Kosan Company, Ltd. for ¥8.3 billion.
April 27, 2021
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Aslead Growth Impact Fund and Aslead Strategic Value Fund, managed by Aslead Capital Pte. Ltd. offered to acquire remaining 83.2% stake in Fuji Kosan Company, Ltd. (TSE:5009) for ¥8.3 billion on April 27, 2021. Under the terms, Aslead will pay ¥1250 per share. Transaction is subject to minimum tender of Aslead getting 40% stake. As of May 17, 2021, Fuji Kosan Company, Ltd. are pleased to inform the Board of Directors of Fuji Kosan Company, Ltd. has, with the unanimous consent of all the Board of Directors, resolved to withhold the expression of opinions regarding the tender Offer at this time. Aslead plan to make Fuji Kosan to private by implementing a series of procedures to limit the shareholders of Fuji Kosan to Aslead. As on May 28, 2021, the Board of Directors of Fuji Kosan rejected the offer and asked its shareholders not to accept it. The offer period will run from April 28, 2021 to June 14, 2021. As of June 15, 2021, the offer will close on July 9, 2021. As of July 9, 2021, the offer will close on July 28, 2021. As of July 21, 2021, the offer will close on August 5, 2021. As of August 4, 2021, the offer will close on August 19, 2021. As on August 11, 2021, the offer will close on August 25, 2021. Settlement date is September 1, 2021. Mita Securities Co., Ltd. acted as tender offer agent and Monex, Inc. acted as sub-agent.
FUJI KOSAN COMPANY, LTD. is primarily engaged in petroleum related products wholesale business. The Company is also engaged in the home energy business, including residential fuel oil retailing business, environment related business, including rental business of construction machine and mega solar power generation business. The Company operates in four segments. The Petroleum segment is engaged in purchasing and selling fuel oil, asphalt and lubricant oil. The Home Energy segment is engaged in retailing liquefied petroleum gas (LPG), kerosene and other household fuel oil. The Rental segment is engaged in rental business of construction machinery and others. The Environment Related segment is engaged in the sale of electricity and high quality urea water, among others.
Aslead Growth Impact Fund and Aslead Strategic Value Fund, managed by Aslead Capital Pte. Ltd. offered to acquire remaining 83.2% stake in Fuji Kosan Company, Ltd. for ¥8.3 billion.