CREA HOLDINGS,Inc cancelled the acquisition of remaining 72.7% in ALTRUISM Co., Ltd. from Seed Co., Ltd.
December 26, 2018
Share
CREA HOLDINGS,Inc. (TSE:1757) concluded a share transfer contract to acquire remaining 72.7% in ALTRUISM Co., Ltd. from Seed Co., Ltd. (TSE:7743) for ¥160 million on December 27, 2017. As per terms, 700 shares will be acquired and as consideration CREA HOLDINGS,Inc. will issue 17.4 million new shares, thus an exchange ratio of 9,358:1 will be used between CREA HOLDINGS,Inc. and ALTRUISM Co., Ltd. respectively. ALTRUISM Co., Ltd. will operate as a wholly owned subsidiary of CREA HOLDINGS,Inc. A Corporate resolution is approved by CREA Holdings, Inc. December 27, 2017. The shareholders of ALTRUISM Co., Ltd. also approved the deal on December 27, 2017. The deal is expected to close on January 22, 2018. Azone Partners, Inc. acted as a third party appraiser.
CREA HOLDINGS,Inc (TSE:1757) cancelled the acquisition of remaining 72.7% in ALTRUISM Co., Ltd. from Seed Co., Ltd on December 27, 2018.
Souken Ace Co Ltd is a Japan-based company mainly engaged in construction business, automobile-related business, cosmetic hygiene-related business. The Company operates through three segments. The Construction Business segment is engaged in housing renovation/maintenance work and construction work. The Automobile-related Business segment develops, manufactures and sells automobile related products. The Cosmetic Hygiene-related Business segment is engaged in the sale of cosmetic products and hygiene related products. The Company is also engaged in investment business and real estate business.
SOUKEN ACE CO., LTD. 
