Marukyu Co., Ltd. signed a basic agreement to acquire Marumiyastore Co., Ltd. from The Oita Bank, Ltd., Izumi Co., Ltd., Marumiya Clients' Stock Ownership Association, Masayoshi Miyano, Miyoko Miyano and others for ¥4.8 billion.
January 09, 2015 at 04:00 am
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Marukyu Co., Ltd. (TSE:8167) signed a basic agreement to acquire Marumiyastore Co., Ltd. (FKSE:7493) from The Oita Bank, Ltd. (TSE:8392), Izumi Co., Ltd., Marumiya Clients' Stock Ownership Association, Masayoshi Miyano, Miyoko Miyano and others for ¥4.8 billion in stock on January 9, 2015. Marukyu Co., Ltd. signed an agreement to acquire Marumiyastore Co., Ltd. on March 30, 2015. Marukyu will allot 0.915 common shares in exchange for every common share of Marumiyastore. On completion, Marumiyastore will become a wholly owned subsidiary of Marukyu Co., Ltd. and will be delisted from stock exchange on June 26, 2015. Marukyu, along with the new establishment by demerger, will have its trade name changed to Nishi-Nippon Retail Partners Co., Ltd." As of April 10, 2015, Marukyu will change its name to Retail Partners Co. Ltd. on July 1, 2015. The Directors in the holding company will be made of 5 names, 3 from Marukyu and 2 to be designated by Marumiyastore, and other than that Representative Directors.
The transaction is subject to approval for the plan in Marukyu's General Shareholders' meeting expected to be held on May 21, 2015. As of March 30, 2015, the meeting of shareholders of Marukyu will be held on May 28, 2015. The transaction is subject to approval of shareholders of Marumiyastore in a meeting to be held on May 27, 2015. The Board of Marukyu and Marumiyastore approved the transaction on March 30, 2015. The effective date of the new establishment by demerger and trade name change is July 1, 2015. As of March 30, 2015, the delisting date is June 26, 2015 and the transaction is expected to complete on July 1, 2015. Nakamura Masahide Office acted as third party appraiser to Marukyu. Trustees Advisory K.K. acted as third party appraiser to Marumiyastore. Hamazaki Law Office and Tokuda Law Office acted as legal advisors to Marukyu and Marumiyastore respectively.
RETAIL PARTNERS CO., LTD. is a Japan-based company mainly engaged in supermarket business and discount store business. The Company operates through two business segments. The Supermarket business is engaged in the sale of fresh foods, processed foods, prepared foods, daily necessities, and other items. The Discount Store business is engaged in the sale of processed foods, clothing, daily necessities and other items. The Company is also engaged in the manufacture and sale of bento prepared dishes, insurance agency business and real estate business.
Marukyu Co., Ltd. signed a basic agreement to acquire Marumiyastore Co., Ltd. from The Oita Bank, Ltd., Izumi Co., Ltd., Marumiya Clients' Stock Ownership Association, Masayoshi Miyano, Miyoko Miyano and others for ¥4.8 billion.