ET Mobile Japan Co., Ltd. and Worldtex Investment Limited made an offer to acquire 52% stake in Intrance Co., Ltd. from ASO Co., Ltd., Masaki Aso and others for ¥2.9 billion.
October 16, 2018
Share
ET Mobile Japan Co., Ltd. and Worldtex Investment Limited made an offer to acquire 52% stake in Intrance Co., Ltd. (TSE:3237) from ASO Co., Ltd., Masaki Aso and others for ¥2.9 billion on October 17, 2018. Under the terms of the transaction, ET Mobile Japan Co., Ltd. and Worldtex Investment Limited made an offer to purchase a maximum of 19.3 million shares of Intrance at ¥153 per share. ET Mobile Japan Co., Ltd. and Worldtex Investment Limited intend to purchase a minimum of 18.2 million shares. ASO Co., Ltd. and Masaki Aso have agreed to tender their all shares i.e. 18.2 million shares representing 49.25% stake in Intrance.
The Independent committee of Board of Directors comprising of Go Anan,Takao Nakata and Takaaki Ohta of Intrance declare their opinion in favor of the offer and advise and take a neutral position. The tender offer will commence on October 18, 2018 and will close on November 20, 2018. The settlement of the tendered offer will start from November 27, 2018. Nimbus Associates acted as appraiser for Board of Intrance Co., Ltd. Shibata, Suzuki & Nakada acted as legal advisor for Intrance Co., Ltd. Mizuho Securities Co., Ltd. acted as tender offer agent for ET Mobile Japan Co., Ltd. and Worldtex Investment Limited. Plutus Consulting Co., Ltd acted as appraiser for ET Mobile Japan Co., Ltd. and Worldtex Investment Limited.
INTRANCE CO., LTD. is a company principally engaged in real estate regeneration activities. The Company operates in two business segments. The Principal Investment business is engaged in purchase and sales of real estate by own account, and various development projects by JV. The Company operates real estate rehabilitation projects targeting a wide range of second-hand properties such as commercial buildings, office buildings and residences throughout the country. The Solution segment is engaged in rent revenue from real estate management, managed revenue by acquisition of real estate, commission income by real estate brokerage and consulting business. The other business is engaged in the operation and plan of the herb garden through subsidiary.
ET Mobile Japan Co., Ltd. and Worldtex Investment Limited made an offer to acquire 52% stake in Intrance Co., Ltd. from ASO Co., Ltd., Masaki Aso and others for ¥2.9 billion.
INTRANCE CO.,LTD. 
