Aeon Co., Ltd. (TSE:8267) made an offer to acquire an additional 12.73% stake in Welcia Holdings Co., Ltd. (TSE:3141) for approximately ¥22.4 billion on October 22, 2014. Under this agreement Aeon Co. will acquire 5.6 million shares at ¥4000 per share from October 23, 2014 to November 20, 2014. Aeon will buy a maximum of 5.6 million shares in the transaction. Aeon will specify two names as a rule as candidates for the Board of Directors of Welcia Holdings and from the two, Welcia Holdings will specify the Vice President and Director. Motoya Okada, President and Director of Aeon, will serve as Representative Director of Welcia Holdings, and Tsutomu Shintani, Vice President, will serve as Director of Welcia Holdings.

As on October 22, 2014, Shigeyasu Tsuchiya, Director of Welcia Holdings, and holding 1.11 million shares of Welcia, Tsuchiya Research Institute, Ltd., holding 1.08 million shares of Welcia, and Tsuchiya Corporation holding 0.98 million shares of Welcia, have the intention to subscribe to the tender offer. Aeon plans to maintain the listed status of Welcia Holdings even after accomplishment of the tender offer. The meeting of the shareholders of Welcia Holdings will be held on November 26, 2014. On October 22, 2014, Board of Directors of Welcia Holdings has resolved to leave to the judgment of the shareholders whether or not to subscribe to the tender offer. The settlement will start on November 27, 2014. Nomura Securities Co., Ltd. provided share value calculations for Welcia Holdings while Anderson Mori & Tomotsune acted as legal advisor for Welcia Holdings. SMBC Nikko Securities Inc. acted as financial advisor and tender offer representative for Aeon Co., Ltd. The purchase commission fee to be paid to SMBC Nikko Securities is ¥23 million.

Aeon Co., Ltd. (TSE:8267) completed the acquisition of an additional 12.73% stake in Welcia Holdings Co., Ltd. (TSE:3141) on November 20, 2014.