Mitsui O.S.K. Lines, Ltd. has completed 100% acquisition of Daibiru Corporation, reads an official press release.
Acquisition of Daibiru Corporation
After consolidation of Daibiru’s ordinary shares and securing all Daibiru voting rights, Daibiru became MOL’s wholly owned subsidiary.
As announced in the November 30, 2021, press release, MOL offered to acquire Daibiru’s ordinary shares with the objective of making it a wholly owned subsidiary of MOL. The tender offer was completed on January 18, 2022, and MOL acquired 82.60% of Daibiru’s ordinary shares.
Prior to this, Daibiru fell under the criterion for delisting, stipulated in the Securities Listing Regulations of the Tokyo Stock Exchange, Inc., and was delisted as of April 26, 2022.
Group-wide management
MOL is working to concentrate its group management resources and strengthen group-wide management.
By successfully making Daibiru a wholly-owned subsidiary, it will strengthen its real estate business, using the MOL Group’s networks and advantageous financial position, by not only making growth-focused investments in offices in Japan, but also expanding businesses globally where the market for office space is expected to grow. The group aims to foster group-wide growth, striving for a sustainable increase in corporate value.
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Source: MOL
