Unimat Life Corporation made an offer to acquire remaining 50.42% stake in CASSINA IXC. Ltd. (TSE:2777) from Maralunga K.K., Cassina S.p.A., Yoji Takahashi, Shoe Takahashi and others for ¥2.3 billion on February 9, 2023. Unimat has entered into a tender agreement with Maralunga K.K., Cassina S.p.A., Yoji Takahashi, and Shoe Takahashi.

As per the terms, the offer price per share is ¥1, 220. Unimat has set the minimum number of shares tendered to 648,520, as it intends to take the company private upon completion. The offer will commence from February 10, 2023, and will close on March 27, 2023.

If the Tender Offeror was unable to acquire all of the Shares, In such a case, the Company plans to implement the Squeeze-Out Procedure. Daisuke Morimoto, Tadaaki Yato, Sakka Kobayashi and Junko Wakabayashi of Nishimura & Asahi acted as legal advisor to Unimat Life Corporation.