Abico Group along with management team of Sanyo Electric Taiwan Co. Ltd. (TSEC:1614) made a tender offer to acquire 47.38% stake in Sanyo Electric Taiwan Co. Ltd. (TSEC:1614) from SANYO Electric Co., Ltd. for TWD 3.5 billion on January 14, 2013.

As per the terms of the deal, Abico Group along with management team of Sanyo Electric Taiwan will acquire 150 million shares of Sanyo Electric Taiwan at a price per share of TWD 23.5. Abico Group will acquire 24% stake and management will acquire 23% stake in Sanyo Electric Taiwan. Sanyo Taiwan will continue using the Sanyo trademark until 2018 and after that transitional period, Sanyo Taiwan will change its trademark to Sanlux. Sanyo Japan also agreed to transfer the trademarks Health and Mamale to Sanyo Electric Taiwan at zero cost.

Abico may seek five seats on the Board to replace Sanyo Japans representatives. The offer announced on January 14, 2013 will close on January 24, 2013.