Air Water Inc. completed the acquisition of 50.1% stake in Kawamoto Corporation.
December 15, 2016
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Air Water Inc. (TSE:4088) made a bid to acquire 50.1% stake in Kawamoto Corporation (TSE:3604) for approximately ¥910 million on November 8, 2016. Air Water Inc. will acquire 2.9 million shares at the price of ¥314 per share. The offering period will start from November 11, 2016 to December 16, 2016. The settlement starts on December 22, 2016. Air Water Inc. will acquire not less than 2.32 million shares. As of November 18, 2016 Medical Ikkou Co., Ltd. (JASDAQ:3353) tendered its 0.39 million shares i.e, 6.58% stake in Kawamoto Corporation to Air Water Inc. (TSE:4088). In a related transaction, Kawamoto plans to issue 1.17 million shares to Air Water via private placement, to raise ¥368.4 million, during the period from January 10, 2017 to January 31, 2017. The Bank of Tokyo-Mitsubishi UFJ, Ltd. acted as third party appraiser for Kawamoto Corporation. Sumitomo Mitsui Trust Bank, Ltd. acted as third party appraiser Air Water Inc. Oh-Ebashi LPC & Partners acted as independent legal advisor for Kawamoto Corporation. SMBC Nikko Securities, Inc. acted as tender offer agent in the transaction.
Air Water Inc. (TSE:4088) completed the acquisition of 50.1% stake in Kawamoto Corporation (TSE:3604) on December 16, 2016.
Medical Ikkou Group Co.,Ltd. is a Japan-based company mainly engaged in the operation of dispensing pharmacies that fill prescriptions for general patients based on the medical prescriptions issued by medical institutions. The Company operates in four business segments. The Dispensing Pharmacy segment is specialized in the sale of medical drugs based on medical prescriptions. The Healthcare segment is engaged in the operation of nursing care facilities, the leasing of medical facilities and others, as well as the medical care and nursing care related businesses. The Medicine Wholesale segment is engaged in the sale of pharmaceutical products to medical institutions and others. The Real Estate segment is engaged in the leasing of real estate properties.