Mitsui O.S.K. Lines, Ltd. (MOL) has completied its 100% acquisition of Osaka headquartered Daibiru Corporation specializing in ownership, operation, management, and leasing of real estate. After consolidation of Daibiru's ordinary shares and securing all Daibiru voting rights, Daibiru became MOL's wholly owned subsidiary, MOL said in a media release.
As announced in the November 30, 2021, press release: Notice regarding Commencement of the Tender Offer for Share Certificates, Etc. of DAIBIRU CORPORATION (Securities Code 8806), MOL offered to acquire Daibiru's ordinary shares with the objective of making it a wholly owned subsidiary of MOL. The tender offer was completed on January 18, 2022, and MOL acquired 82.60% of Daibiru's ordinary shares.
Prior to this, Daibiru fell under the criterion for delisting, stipulated in the Securities Listing Regulations of the Tokyo Stock Exchange, Inc., and was delisted as of April 26, 2022.
MOL is working to concentrate its group management resources and strengthen group-wide management. By successfully making Daibiru a wholly-owned subsidiary, it will strengthen its real estate business, using the MOL Group's networks and advantageous financial position, by not only making growth-focused investments in offices in Japan, but also expanding businesses globally where the market for office space is expected to grow. The group aims to foster group-wide growth, striving for a sustainable increase in corporate value.
