Itochu to acquire 56% stake in Descente for JPY182.6bn.

Synopsis

Itochu, a company that offers domestic trading, import and export, and overseas trading, agreed to acquire 56% stake in Descente, a Japanese sportswear maker, for JPY182.6bn. The offer for Descente is for JPY4.35k per share, for a total of JPY182.6 billion. Itochu controls a 44% stake in the sports apparel maker via a wholly-owned subsidiary.

Principals

target

DESCENTE

bidder

Itochu Corporation

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Market Context

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Seller Team (1)

shuichi koseki

CEO at DESCENTE

Manager

target

Deal

£ 973 M

Total Value

Bidder Team (1)

masahiro okafuji

Chairman and CEO at ITOCHU CORPORATION

Manager

bidder

Deals

£ 10.44 B

Total Value

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