Osaki Electric Co. Ltd. completed the acquisition of an additional 41.95% stake in Osaki Engineering Co., Ltd. for ¥1.7 billion.
June 21, 2016
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Osaki Electric Co. Ltd. (TSE:6644) made an offer to acquire remaining 45.95% stake in Osaki Engineering Co., Ltd. (JASDAQ:6259) for ¥1.9 billion in cash on May 11, 2016. Osaki Electric will acquire 2.37 million shares for ¥800 each. The offer period will be open from May 12, 2016 to June 22, 2016. Settlement starts from June 29, 2016. Nomura Securities acted as financial advisor, appraiser and tender offer agent while Anderson, Mori & Tomotsune acted as legal advisor for Osaki Electric. Yamada FAS acted as appraiser while City-Yuwa Partners acted as legal advisor for Osaki Engineering.
Osaki Electric Co. Ltd. (TSE:6644) completed the acquisition of an additional 41.95% stake in Osaki Engineering Co., Ltd. (JASDAQ:6259) for ¥1.7 billion on June 22, 2016. Osaki Electric Co. Ltd acquired 2.17 million shares of Osaki Engineering Co., Ltd. As on June 30, 2016, Osaki Electric will wholly acquire Osaki Engineering till July 29, 2016.
Osaki Electric Co., Ltd. is a Japan-based company mainly engaged in the manufacture and sale of measurement and control equipment. The Company operates in three business segments. The Measurement and Control Equipment segment manufactures and sells electric energy meter, current limiter, instrument transformer, distribution board, supervisory control device, time switch, optical communication related equipment and meter reading system. The Flat Panel Display (FPD)-related Equipment segment is engaged in the design, manufacture, and sale of FPD-related equipment. The Real Estate segment is involved in the real estate leasing business.
OSAKI ELECTRIC CO., LTD. 
