Hagihara Industries Inc. agreed to acquire Epc Holdings Pte. Ltd. from Grenz Pty Ltd, Sunny May Pty. Ltd., Three Fish Investments Pty . Ltd., Siva Investments Pty. Ltd. Xymox Pty. Ltd. and others for SGD 22.5 million.
December 17, 2017
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Hagihara Industries Inc. (TSE:7856) agreed to acquire Epc Holdings Pte. Ltd. from Grenz Pty Ltd, Sunny May Pty. Ltd., Three Fish Investments Pty . Ltd., Siva Investments Pty. Ltd. Xymox Pty. Ltd. and others for SGD 22.5 million on December 18, 2017. The contract conclusion is expected to take place on December 19, 2017. Under the terms of transaction, Hagihara Industries Inc. will acquire 103.3 million shares for SGD 22.5 million; and acquired 19.4% stake from Grenz Pty Ltd, Sunny May Pty. Ltd., Three Fish Investments Pty . Ltd. and Siva Investments Pty. Ltd. each and 3.2% stake from Xymox Pty. Ltd. For the year ended June 30, 2017, Epc Holdings Pte. Ltd. reported total assets of SGD 26.2 million, net assets of SGD 18.5 million, revenue of SGD 32.4 million and net profit of SGD 2.8 million. The transaction has been resolved by Board of Hagihara Industries Inc. The transaction is expected to be completed by February 1, 2018. KongSeh Ping of RHTLaw Taylor Wessing acted as legal advisor to Grenz Pty Ltd., Sunny May Pty. Ltd., Three Fish Investments Pty. Ltd., Siva Investments Pty. Ltd. and Xymox Pty. Ltd.
HAGIHARA INDUSTRIES INC. is primarily engaged in manufacture and sale of raw yarns, cloth and laminate cloth related to synthetic resin products. The Company operates in two business segments. In the Synthetic Resin Products segment, the Company and its subsidiaries manufacture and sell secondary products related to synthetic resin products, including raw yarns, cloth and laminate cloth. The Machinery Products segment manufactures and sells a range of automatic equipment, such as splitting & winding machines.
Hagihara Industries Inc. agreed to acquire Epc Holdings Pte. Ltd. from Grenz Pty Ltd, Sunny May Pty. Ltd., Three Fish Investments Pty . Ltd., Siva Investments Pty. Ltd. Xymox Pty. Ltd. and others for SGD 22.5 million.