Glory Ltd. (TSE:6457) made an offer to acquire 15.8% stake in FueTrek Co., Ltd. (TSE:2468) from Hideyuki Fujiki and others for approximately ¥840 million on September 28, 2018. Glory Ltd. signed an agreement on September 28, 2018, with Hideyuki Fujiki, to the effect that he will tender all held shares of FueTrek Co., Ltd. in the offer. Glory Ltd. will acquire 1.5 million shares of FueTrek Co Ltd at the price of ¥569 per share. Glory Ltd. aim to increase its stake in FueTrek Co., Ltd. from 0% to 15.8%. In a related transaction, Glory Ltd. made an offer to acquire 84.18% stake in FueTrek Co., Ltd. for ¥6.3 billion. Glory Ltd. intends to have FueTrek Co., Ltd.'s current management team and employees continue to contribute to the development of business as core member. Glory Ltd. may designate at most 2 persons as the directors of FueTrek Co., Ltd. and at most 1 person as the corporate auditor and at most 1 person as the corporate auditor is equal to or more than the minimum voting rights Ratio (33.40%). The transaction is subject to if the total number of tendered shares is less than minimum number of shares to be purchased as 1.48 million, none of the tendered shares will be purchased. If the total number of tendered shares exceeds the maximum number of shares to be purchased, all or part of shares exceeding such number shall not be purchased, and delivery and other settlements relating to the purchase of the shares shall be conducted under the method of proportional distribution. The transaction has been resolved by the Board of FueTrek Co., Ltd. unanimously. SMBC Nikko Securities Inc. acted as financial advisor and Oh-Ebashi LPC & Partners acted as legal advisor to FueTrek Co., Ltd. and Hideyuki Fujiki. Daiwa Securities Co., Ltd. acted as tender offer agent in the transaction. Offer period starts from October 1, 2018 and ends on October 29, 2018.

Glory Ltd. (TSE:6457) completed the acquisition of 15.8% stake in FueTrek Co., Ltd. (TSE:2468) from Hideyuki Fujiki and others on October 29, 2018. Glory Ltd.