Majesty Golf Korea Co., Ltd. made an offer to acquire the remaining 62.31% stake in MAJESTY GOLF Co., Ltd. (JASDAQ:7834) from Mozart Advisors Korea Limited and others for ¥2.1 billion on August 9, 2019. Under the terms of the offer, Majesty Golf Korea will acquire 10.7 million shares in MAJESTY GOLF at a price of ¥195 per share in cash. Majesty Golf Korea held 6.5 million shares in MAJESTY GOLF. On completion, MAJESTY GOLF will become a wholly owned subsidiary of Majesty Golf Korea. Kim Jae-Wook, President and Representative Director of MAJESTY GOLF, and Kim Suk-Kong, Director of MAJESTY GOLF, are planning to continue to manage MAJESTY GOLF after the transaction. The minimum number of shares to be purchased is 4.99 million. The Board of Directors of MAJESTY GOLF resolved the transaction on August 9, 2019. The Board of Directors of MAJESTY GOLF established the independent committee for the transaction. The tender offer will run from August 13, 2019 to September 25, 2019. Shibata, Suzuki & Nakada acted as legal advisor for MAJESTY GOLF. Majesty Golf Korea Co., Ltd. completed the acquisition of additional 47.92% stake in MAJESTY GOLF Co., Ltd. (JASDAQ:7834) from Mozart Advisors Korea Limited and others for ¥1.6 billion on September 25, 2019. Tender offer period ended on September 25, 2019 and 8.3 million shares were tendered. Majesty Golf Korea Co., Ltd. now holds 14.75 million shares representing 85.61% stake.