Meiji Shipping Co., Ltd. (TSE:9115) intends to make an offer to acquire remaining 47.85% stake in Schumag Aktiengesellschaft (DB:SCM) for €2.6 million on June 10, 2014. Miaocheng Guo intends to offer €1.35 per share of Schumag Aktiengesellschaft. Miaocheng Guo has also signed share purchase agreements with the major shareholders of Schumag Aktiengesellschaft for the offer. As of July 24, 2014, the management Board and supervisory Board of Schumag Aktiengesellschaft unanimously recommended its shareholders to accept the offer. The transaction is subject to Chinese and German approval. Christoph Wolf, Tilman Wink, Manuel Lorenz, Thomas Gilles, Christian Atzler, Lipei Shi, Shengzhe Wang, Hagen Koeckeritz, Verena Boehm, Sarwenaz Kiani and Heiko Franke of Baker & McKenzie acted as legal advisors and Gruen Advisors Gmbh acted as financial advisor for Meiji Shipping Co., Ltd.
Meiji Shipping Co., Ltd. (TSE:9115) completed the acquisition of additional 2.43% stake in Schumag Aktiengesellschaft (DB:SCM) for €0.13 million on September 4, 2014.
Meiji Shipping Group Co Ltd, formerly Meiji Shipping Co Ltd, is a Japan-based company mainly engaged in ocean shipping business. The Company operates through three segments. The Oceangoing Shipping segment conducts business related to shipping, with ship-owner companies operating overseas that own tramp ships such as tankers, car carriers, and bulkers, with a focus on the ship rental business that receives revenue from rental fees. The Hotel-related business segment currently owns hotels and golf courses throughout Japan and provides their respective services. The Real Estate Rental business segment primarily focuses on real estate leasing business in which owned buildings are leased to tenants as office properties, and equity method affiliates conduct real estate brokerage services as well as general operation and management of buildings.
