Meidensha Corporation (TSE:6508) signed a contract to acquire an additional 37% stake in Prime Meiden Limited from PCI Limited for ¥2.9 billion on June 1, 2016. Meidensha will acquire 42.98 million shares amounting to 37% stake of Prime Meiden Limited. Following the acquisition, Meidensha Corporation will hold 69.7 million shares amounting to 60% stake in Prime Meiden Limited and Prime Meiden Limited will operate as a subsidiary of Meidensha Corporation. The advisory costs are estimated to be about ¥165 million. The transaction is expected to be completed on June 30, 2016. Surbhi Kejriwal, Vinita Krishnan and Manisha Shroff of Khaitan & Co acted as legal advisors for Meidensha Corp. KPMG Corporate Finance India acted as the financial advisor for PCI Ltd. in the transaction. Meidensha Corporation (TSE:6508) completed the acquisition of the remaining 77% stake in Prime Meiden Limited from PCI Limited and others on June 14, 2016.