Kameda Seika (TYO:2220) has secured a new loan of 30 billion yen and finalized the acquisition of additional shares in its equity method affiliate, TH Foods, to convert it into a consolidated subsidiary.
The new loan will be provided by Daishi Hokuetsu Bank, Mizuho Bank,
Sumitomo Mitsui Banking Corp. and MUFG Bank, according to Tokyo bourse filings on Thursday.
In a separate filing, Kameda Seika said it will purchase 272,845 common shares for $220 million or approximately 32 billion yen. Upon completion, Kameda Seika's ownership in TH Foods will increase from 50.0% to 100.00%.
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