Japanese retailer Lawson has agreed to purchase all shares and receivables of smaller rival am/pm Japan Co. from Rex Holdings.
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The agreement follows Lawson’s original announcement in February that it was to acquire am/pm Japan for a total consideration of about JYP15.4bn (US$149.8m).
Am/pm Japan plans to implement a JPY5.5bn third-party allocation of new shares to Rex Holdings in order to “secure operating capital, improve its financial position and enhance its capitalisation”.
In July 2009 an additional JPY0.9bn third-party allocation of new shares by am/pm Japan will be made to Rex Holdings
Along with the capital injection, Rex Holdings plans to make am/pm Japan a wholly owned subsidiary before the acquisition.
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By GlobalDataThe execution of the acquisition is subject to the fulfilment of items specified in the final agreement.
