Open House Group Co., Ltd. completed the acquisition of 93.01623% stake in Sanei Architecture Planning Co.,Ltd. from a group of shareholders for approximately ¥40 billion.
September 28, 2023
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Open House Group Co., Ltd. (TSE:3288) made an offer to acquire Sanei Architecture Planning Co.,Ltd. (TSE:3228) from a group of shareholders for ¥43 billion on August 16, 2023. As per the transaction, Open House Group Co., Ltd. will pay ¥2025 per share to the shareholders of Sanei Architecture Planning Co.,Ltd. The transaction is subject to minimum tender. The transaction is expected to close on September 28, 2023. SMBC Nikko Securities Inc. acted as financial advisor to Open House Group Co., Ltd. City-Yuwa Partners acted as legal advisor and Frontier Management Inc. Fairness arm acted as financial advisor to Sanei Architecture Planning Co.,Ltd. Nagashima Ohno & Tsunematsu acted as legal advisor to Open House Group Co., Ltd.
Open House Group Co., Ltd. (TSE:3288) completed the acquisition of 93.01623% stake in Sanei Architecture Planning Co.,Ltd. (TSE:3228) from a group of shareholders for approximately ¥40 billion on September 28, 2023.
Open House Group Co Ltd is a Japan-based company primarily engaged in the real estate related business. The Company operates through four business segments. The Detached Houses segment is engaged in the brokerage (open house), city center detached house sales (open house development), construction contract (open house architect), and quasi-city center detached house sales (Hawk One). The Profitable Real Estate Business segment is engaged in the acquisition, operation, sales of domestic profitable real estate. The Condominium Business segment is engaged in the development and sales of new condominiums. It works on compact type and family type condominiums mainly in the central areas of Tokyo, Nagoya and Fukuoka areas. The Other segments include mortgage business, financial services business, real estate market analysis and real estate sales in the United States.
Open House Group Co., Ltd. completed the acquisition of 93.01623% stake in Sanei Architecture Planning Co.,Ltd. from a group of shareholders for approximately ¥40 billion.