Tokyu Corporation (TSE:9005) made a tender offer to acquire additional 17.92% in Tokyu Recreation Co., Ltd. (TSE:9631) for ¥4.5 billion on February 10, 2016. As per the offer, 5.3 million shares will be acquired at ¥850 per share. The offer will commence from February 12, 2016 to March 10, 2016. Deal was resolved by the Board of Tokyu Corp. The expected closing is on March 17, 2016. Nomura Securities Co., Ltd. acted as financial advisor for Tokyu Corporation. Daiwa Securities Co., Ltd. acted as financial advisor and independent third party appraiser and TMI Associates acted as legal advisor for Tokyu Recreation. Nomura Securities Co., Ltd. acted as tender offer agent.

Tokyu Corporation (TSE:9005) completed the acquisition of additional 17.92% in Tokyu Recreation Co., Ltd. (TSE:9631) on March 11, 2016.