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BRIEF- Ambition to acquire 100 pct stake in Veritas Investment through cash and stock swap
October 3, 2017 / 1:50 AM / in 14 days

BRIEF- Ambition to acquire 100 pct stake in Veritas Investment through cash and stock swap

Oct 3(Reuters) - Ambition Corp

* Says it plans to acquire 31,528 shares (98.5 percent stake) of Veritas Investment Co.,Ltd., for 3.48 billion yen in total, effective Oct. 6

* Says it will acquire remaining 472 shares (1.5 percent stake)of Veritas Investment through stock swap

* Says one share of Veritas Investment will be exchanged for 95.33 shares of the company (45,000 shares in total), effective Oct. 24

* Says it will take out loans of 2 billion yen in total from 8 banks, on Oct. 5 and repayment date on Sept. 25, 2024

* Proceeds will be used for share acquisition fund

Source text in Japanese:goo.gl/cYsutg

Further company coverage: (Beijing Headline News)

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