Japanese mobile carrier KDDI Corp is planning to launch a tender offer along with trading company Mitsubishi Corp for convenience store chain Lawson to take it private, it said on Tuesday.
Lawson is currently a subsidiary of Mitsubishi Corp, which holds just over 50% of Lawson’s shares. If the deal goes through both KDDI and Mitsubishi Corp would hold 50% of Lawson’s shares.
The companies plan to commence the offer in April this year.
The tender offer is expected to be worth around 500 billion yen ($3.37 billion), Japan’s Nikkei newspaper reported.
Reuters