H.I.S. Co., Ltd. cancelled the acquisition of Red Label Vacations Inc.
January 07, 2020
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H.I.S. Co., Ltd. (TSE:9603) signed an agreement to acquire Red Label Vacations Inc. for approximately CAD 130 million on January 8, 2019. Under the terms of the agreement, Red Label Vacations will continue to operate as an independent, wholly-owned subsidiary of H.I.S. As of October 31, 2018, Red Label Vacations have sales of CAD 1,319 million. Completion of the transaction is subject to customary closing conditions, including approval by the Canadian Competition Bureau. Subject to the satisfaction of all necessary conditions, the transaction is expected to be completed in the first calendar quarter of 2019. BMO Capital Markets acted as exclusive financial advisor and Osler, Hoskin & Harcourt LLP acted as legal counsel to Red Label Vacations Inc.
H.I.S. Co., Ltd. (TSE:9603) cancelled the acquisition of Red Label Vacations Inc. on January 8, 2020.
H.I.S. Co., Ltd. is primarily engaged in travel business. The Company operates in four segments. The Travel segment is engaged in the provision of related services of overseas and domestic travel. The Huisten Bos Group segment has owned and operated theme parks in Sasebo City, Nagasaki Prefecture and Gamagori City in Aichi Prefecture, and develops new power sources such as renewable energy, and incidental projects. The Hotel segment is engaged in hotel and related business in Japan, Taiwan and others. The Kyushu Industrial Transportation Group, with the Kyushu Industrial Transportation Holdings Co., Ltd. as the holding company, is primarily engaged in automobile transportation business. Besides, it is involved in insurance agency such as overseas travel insurance, as well as development and operation of guest room reservation system.
H.I.S. CO., LTD. 
