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Home Latest Colowide boosts Ootoya stake to 46.77% in successful takeover bid

Colowide boosts Ootoya stake to 46.77% in successful takeover bid

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Japanese dining establishment chain driver Colowide Co. claimed Wednesday it has actually elevated its stake in battling eating chain Ootoya Holdings Co. to 46.77 percent adhering to a hostile takeover bid.

Photo tackled June 10, 2016, reveals an Ootoya dining establishment in Tokyo run by Ootoya Holdings Co. (Kyodo)

Colowide, which runs a vast array of Japanese-design clubs and also dining establishments consisting of the smoked beef restaurant Gyu-Kaku, has claimed it intends to quickly send out brand-new supervisors to Ootoya after a remarkable investors’ conference to reverse the latter’s company adhering to the takeover bid released in July and also expanded in late August.

Colowide claimed the tender deal efficiently finished Tuesday after it obtained sufficient provides from Ootoya investors to increase its stake in the set-menu restaurant over the targeted reduced restriction of 40 percent.


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