ITOCHU Unit Completes Tender Offer for Itochu-Shokuhin, Plans Full Ownership

Itochu-Shokuhin (TYO:2692) is set to go private as a tender offer by G.K. FMDI was completed after acquiring 4.8 million shares, exceeding the minimum threshold, according to a Friday filing on the Tokyo Stock Exchange.The transaction gives G.K. FMDI a 37.6% stake in Itochu-Shokuhin, making it a major shareholder from April 16.ITOCHU, the parent group of Itochu-Shokuhin, together with its unit, plans to pursue additional steps to take full ownership of the company, which could lead to its delisting from the Tokyo Stock Exchange.

-- Itochu-Shokuhin (TYO:2692) is set to go private as a tender offer by G.K. FMDI was completed after acquiring 4.8 million shares, exceeding the minimum threshold, according to a Friday filing on the Tokyo Stock Exchange.

The transaction gives G.K. FMDI a 37.6% stake in Itochu-Shokuhin, making it a major shareholder from April 16.

ITOCHU, the parent group of Itochu-Shokuhin, together with its unit, plans to pursue additional steps to take full ownership of the company, which could lead to its delisting from the Tokyo Stock Exchange.