Mitsui Chemicals, Inc. (TSE:4183) agreed to acquire remaining 32.02% stake in ARRK Corporation (TSE:7873) for ¥11.1 billion on May 14, 2020. Under the terms of the transaction, 0.0511 shares of Mitsui Chemicals common stock will be allotted and delivered for each Ark common stock and number of shares to be delivered through share exchange is 5.3 million shares. The meeting of the shareholders will be held on June 26, 2020 to approve the transaction. Shareholders of ARRK Corporation have approved the transaction in the ordinary general meeting held on June 26, 2020. The Expected delisting of ARK is July 30, 2020. Effective date of the share exchange is scheduled to be August 1, 2020. Mori Hamada & Matsumoto LPC and TMI Associates acted as legal advisors to Mitsui Chemicals, Inc. Mizuho Securities Co., Ltd acted as financial advisor and AGS Consulting Co., Ltd. acted as due diligence provider to Mitsui Chemicals, Inc. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor and TMI Associates, Mori Hamada & Matsumoto LPC acted as legal advisors to ARRK Corporation. Keiji Hatano and Nirav N. Mehta of Sullivan & Cromwell LLP (Japan) acted as legal advisor to Mitsui Chemicals, Inc. (TSE:4183) in the transaction.

Mitsui Chemicals, Inc. (TSE:4183) completed the acquisition of remaining 32.02% stake in ARRK Corporation (TSE:7873) on August 1, 2020. ARRK Corporation delisted on July 30, 2020.