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ZERO agrees on tender offer by ZENITH LOGISTICS; announces capital and business alliance with Tan Chong International Limited


Thursday, 15 May 2014 04:00am EDT 

ZERO CO LTD:Agreed on tender offer by Hong Kong-based company ZENITH LOGISTICS LIMITED, for 1,896,000 shares (11.09 pct stake) to 4,802,000 shares (28.09 pct stake) in ZERO at 830 yen per share, or 3,985,660,000 yen in total for 4,802,000 shares, from May 16 to June 12.ZENITH LOGISTICS LIMITED is a 80 pct-owned subsidiary of sub-subsidiary of Tan Chong International Limited (TCIL).ZENITH LOGISTICS may hold 4,802,000 shares (28.09 pct stake) in the company up from 0 share after transaction and TCIL group companies may hold 8,717,400 shares (51 pct stake) in ZERO.This is part of capital alliance with TCIL formed on May 15.ZERO and TCIL will also cooperate in construction of automobile value chain in Association of Southeast Asian Nations (ASEAN) markets, provision of automobile after-sales service, employee training and truck body manufacturing business, through business alliance. 

Company Quote

690.0
10.0 +1.47%
25 Jul 2014