Open House Group Co., Ltd. completed the acquisition of 93.01623% stake in Sanei Architecture Planning Co.,Ltd. from a group of shareholders for approximately ¥40 billion.
September 27, 2023
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Open House Group Co., Ltd. (TSE:3288) made an offer to acquire Sanei Architecture Planning Co.,Ltd. (TSE:3228) from a group of shareholders for ¥43 billion on August 16, 2023. As per the transaction, Open House Group Co., Ltd. will pay ¥2025 per share to the shareholders of Sanei Architecture Planning Co.,Ltd. The transaction is subject to minimum tender. The transaction is expected to close on September 28, 2023. SMBC Nikko Securities Inc. acted as financial advisor to Open House Group Co., Ltd. City-Yuwa Partners acted as legal advisor and Frontier Management Inc. Fairness arm acted as financial advisor to Sanei Architecture Planning Co.,Ltd. Nagashima Ohno & Tsunematsu acted as legal advisor to Open House Group Co., Ltd.
Open House Group Co., Ltd. (TSE:3288) completed the acquisition of 93.01623% stake in Sanei Architecture Planning Co.,Ltd. (TSE:3228) from a group of shareholders for approximately ¥40 billion on September 28, 2023.
Open House Group Co Ltd, formerly Open House Co Ltd, is a Japan-based company primarily engaged in the real estate related business. The Company operates through five business segments. The Detached House-Related Business segment engages in brokerage (Open House), detached house sales (Open House Development), detached house subdivision (Hawk One), and construction contracting (Open House Architect). The Condominium Business segment develops and sells new condominiums. The Income-Producing Real Estate Business segment acquires, manages, and sells income-producing real estate in Japan. The Others segment is engaged in the U.S. real estate business, including sales, consulting, property management, and financial services related to U.S. real estate. The Pleasant Corporation segment plans, develops and sells mainly studio and family condominiums.
Open House Group Co., Ltd. completed the acquisition of 93.01623% stake in Sanei Architecture Planning Co.,Ltd. from a group of shareholders for approximately ¥40 billion.