NuFlare Technology, Inc. (JASDAQ:6256) and Shin-Etsu Enginering Co., Ltd. agreed to acquire 8.1% stake in Shibaura Mechatronics Corporation (TSE:6590) from Toshiba Corporation (TSE:6502) on December 4, 2017. As per terms, Shin-Etsu Enginering Co., Ltd. will acquire 2.6 million shares and NuFlare Technology, Inc. will acquire a maximum of 1.6 million shares. There is a possibility that shares to be sold to NuFlare Technology, Inc. will be decreased.

The sales price will be equivalent to a domestic offering transaction. In related deal, Toshiba Corporation agreed to sell 8.3 million shares in the domestic offering and 1.3 million shares through Greenshoe option. Post completion of all the deals, Toshiba Corporation will hold approximately 10% in Shibaura Mechatronics Corporation.

Shin-Etsu Enginering Co., Ltd. will complete its acquisition from December 20, 2017 to December 25, 2017 whereas it is expected that the entire process will close by mid-January.