Polaris Private Equity Fund V, L.P., a fund managed by Polaris Capital Group Co., Ltd. completed the acquisition of Sogo Medical Holdings Co.,Ltd. from a group of shareholders.
Kenji Sakamoto intends to continue to be the management of Sogo after the Transaction. Hiroshi Oyamada intends to externally continue the support to Sogo, although he will not be involved in the management of Sogo after the transaction same as before. The offer is aimed at acquiring a minimum of 19.96 million shares of Sogo. The offer period is from February 6, 2020 to March 30, 2020.
Polaris Private Equity Fund V, L.P., a fund managed by Polaris Capital Group Co., Ltd. completed the acquisition of Sogo Medical Holdings Co.,Ltd. (TSE:9277) from a group of shareholders on March 23, 2020. As on March 23, 2020, Polaris Capital tendered 27,172,702 shares representing 90.86% stake, and it has exceeded the the lower limit of the number of shares to be purchased and now the shareholders of Sogo Medical Holdings will be required to sell all of its shares in Sogo. As a result of this offer, Sogo will be delisted. On March 30, 2020, Mitsui completed the procedure of transferring its stock.