Zenken Holdings Co Ltd &
ZK Holdings | Update Date: 12/24/08 |
| Date Announced: 10/09/08 |
Value (million $USD): 22.1 million U.S. Dollar
2.20 billion Japanese Yen |
|
| Status: Completed | |
| TRANSACTION DETAILS |
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| Date Announced | 10/09/08 | | |
| Date Originally Announced | 10/09/08 | | |
| Format | Acq. Maj. Int. | Acquisition techniques | Acquiror Includes Managem; Acquiror is an Investor G; Going Private; Leveraged Buyout; Management Buyout; Tender Offer; Tender/Merger |
| Attitude | Friendly | Agency | n/a |
| Value | 22.1 million U.S. Dollar
2.20 billion Japanese Yen | Advisor Fees | n/a |
| SYNOPSIS |
|---|
| JAPAN - A Management led investor group, consists of ZK Holdings (ZKH), a special purpose acquisition vehicle and a wholly owned unit of Academia subsidiary Minerva 1 Go Toshi Jigyo Yugen Sekinin Kumiai, acquired 97.29% interest, or 14,886 ordinary shares outstanding, in Zenken Holdings Co Ltd (ZH), an owner and operator of English language school, for 148,000 Japanese yen ($1,487.696 US) in cash per share, or a total value of 2.203 bil yen ($22.146 mil), via its tender offer to acquire the entire share capital, or 15,300 ordinary shares in ZH, in a leveraged buyout transaction. The offer was conditioned upon at least 66.7% interest, or 10,200 ordinary shares being tendered. ZKH received irrevocable undertakings of 71.0% interest, or 10,865 ZH shares from its shareholders comprised of the majority shareholder Mr. Nobuo Yoshizawa, and minority shareholders Washin Corp, the ZH president and the representing director Mr. Yoshimitsu, and WJP. |
| TARGET |
|---|
| Name | Zenken Holdings Co Ltd (Nip Her St : 2446) |
| Industries | Offices of holding companies, nec |
| City | Tokyo |
| State | n/a |
| Nation | Japan |
| Incorporated in | n/a |
| Public Status | Public |
| Business Description | Zenken Holdings Co Ltd, formerly known as Zenken All Corp, is headquartered in Tokyo, Japan. The Group's principal activity is the operation of "Minerva" chain of English language schools for children. It primarily focuses on children within the age of zero to one year, above one year and middle school children. It is also engaged in designing and selling of educational material for children. The operations are carried out through the following divisions: Tuition fees; Sale of educational materials; Annual membership fees; Entrance fees and others. The Company was founded in 2001. |
| Advisors | Masters Trust Inc |
| Target Sales | 68.4 million U.S. Dollar
7.25 billion Japanese Yen |
|
| ACQUIROR |
|---|
| Name | ZK Holdings |
| Industries | n/a |
| City | Chiyoda-Ku, Tokyo |
| State | n/a |
| Nation | Japan |
| Incorporated in | n/a |
| Public Status | Subsidiary |
| Business Description | ZK Holdings is a special purpose acquisition vehicle formed for the purpose of acquiring Zenken Holdings Co Ltd. The company is headquartered in Tokyo, Japan. A special purpose acquisition vehicle is an investment vehicle that is formed solely for the purpose of making acquisitions. The company was founded in 2008. |
| Advisors | Mizuho Management Advisory; Mizuho Investors Securities Co |
| Acquiror Sales | n/a |
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