Showa Aluminum Can Corp. agreed to acquire a 20% stake in Universal Can Corporation from Hokkan Holdings Limited (TSE:5902) on November 25, 2021. As part of the transaction, Showa will acquire 16,000 shares in Universal Can.

Universal Can have a total assets of ¥67,730 million, net assets of ¥26,588 million, net sales of ¥67,754 million and EBIT of ¥2,699 million for the Fiscal year ended March 31, 2021. Completion of the transaction is planned on March 31, 2022. BofA Securities Japan Co., Ltd. acted as financial advisor to Showa Aluminum Can Corporation.

Paul, Weiss, Rifkind, Wharton & Garrison LLP & Anderson Mori & Tomotsune LPC acted as legal advisor to Showa Aluminum Can Corporation.