Lecip Holdings Corporation entered into an agreement to acquire Arcontia International AB from Aveqo Venture AB and Hofvarpner AB for approximately ¥740 million.

Lecip Holdings Corporation (TSE:7213) entered into an agreement to acquire Arcontia International AB from Aveqo Venture AB and Hofvarpner AB for approximately ¥740 million on August 1, 2013. Lecip Holdings will acquire 500 shares of Arcontia International AB, representing 100% stake in Arcontia International AB. Arcontia International had sales of ¥194.24 million, net income of ¥31.16 million, total assets of ¥92.01 million and net assets of ¥31.92 million for the year ended April 2013.

The transaction is expected to be completed on August 22, 2013. Yutaka Yazawa acted as legal advisor in the transaction. Lennart Persson and Per Östholm of Bdo Göteborg Ab acted as the due diligence providers to Lecip Holdings Corporation.