Rizap Group, Inc. completed the acquisition of a 52.6% stake in Jeans Mate Corporation from Kenji Nishiwaki, Masashi Nishiwaki and other shareholders for approximately ¥920 million.
February 13, 2017
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Rizap Group, Inc. (SPSE:2928) made a tender offer to acquire Jeans Mate Corporation (TSE:7448) from Kenji Nishiwaki, Masashi Nishiwaki and other shareholders for ¥1.8 billion on January 16, 2017. Under the terms of the transaction, Rizap Group will acquire a maximum 10.92 million shares and a minimum of 5.75 million shares for ¥160 per share. The offer period is from January 17, 2017 to February 13, 2017. The settlement date is February 20, 2017. Rizap Group passed a corporate resolution regarding the offer on January 16, 2017. Daiwa Securities Co., Ltd. acted as the financial advisor to Rizap Group and the tender offer agent in the transaction. Anderson, Mori & Tomotsune served as the legal advisor to Jeans Mate Corporation.
Rizap Group, Inc. (SPSE:2928) completed the acquisition of a 52.6% stake in Jeans Mate Corporation (TSE:7448) from Kenji Nishiwaki, Masashi Nishiwaki and other shareholders for approximately ¥920 million on February 13, 2017. Kenji Nishiwaki sold 23.61% stake and Masashi Nishiwaki sold 20.23% stake in Jeans Mate. As part of the tender offer, Rizap Group, Inc. acquired 5.75 million shares at ¥160 per share and as a part of capital increase, it acquired 3.45 million shares. After completion of the both the transactions, Rizap Group, Inc. holds 9.2 million shares, representing 84.2% stake in Jeans Mate Corporation.
Rizap Group Inc is engaged in the beauty and healthcare, lifestyle and platform businesses. The Company operates in three business segments. The Beauty and Healthcare segment operates RIZAP-related businesses such as the personal training gyms RIZAP and RIZAPGOLF, and sells body-adjusting underwear, beauty-related products, cosmetics, health foods, sports products and others. The Lifestyle segment is involved in the planning, development, manufacture, and sale of interiors, apparel miscellaneous goods, casual wear, and design twisted yarn, as well as custom housing and remodeling businesses. The Platform segment is the retail business of entertainment products and store operations in the reuse business, editing and issuing of free papers, publishing business, and the business that forms the basis of the group's entire value chain.
Rizap Group, Inc. completed the acquisition of a 52.6% stake in Jeans Mate Corporation from Kenji Nishiwaki, Masashi Nishiwaki and other shareholders for approximately ¥920 million.
RIZAP GROUP, INC. 