Jesco Holdings, Inc. acquired 64.5% stake in Magna Telecommunication Industries Co., Ltd. from Hideki Suemura.
March 30, 2023
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Jesco Holdings, Inc. (TSE:1434) agreed to acquire 64.5% stake in Magna Telecommunication Industries Co., Ltd. from Hideki Suemura on March 22, 2023. As part of transaction, Jesco will acquire 49,900 shares. Prior to transaction, Hideki Suemura will acquire remaining shares of Magna from remaining shareholders. Contract date is scheduled on March 22, 2023. The transaction is expected to complete on March 28, 2023.
Jesco Holdings, Inc. (TSE:1434) completed the acquisition of 64.5% stake in Magna Telecommunication Industries Co., Ltd. from Hideki Suemura in March 2023.
JESCO Holdings, Inc. is a Japan-based company engaged in the domestic engineering, procurement and construction (EPC)business, Association of Southeast Asian Nations (ASEAN) EPC business, and general media business. The Domestic EPC segment and ASEAN EPC segment are engaged in the design, procurement, construction management and maintenance for piping, wiring, equipment installation and other works of commercial facilities, mobile communication base stations and others, in Japan and ASEAN region, respectively. The General Media segment is engaged in the planning, design, content production, installation, operation and maintenance for installation planning of large-scale video equipment such as LED visions in Japan.