SBI Holdings (TYO:8473) subsidiary SBI Ventures Two completed the acquisition of Berlin-based credit institution Solaris on Friday, making it a consolidated subsidiary, according to a Monday filing with the Tokyo Stock Exchange.
The final number of acquired shares is about 9.8 million, with about 9.6 million shares purchased through third-party allotment and the other 192,536 shares acquired from existing shareholders.
The total acquisition cost is 70 million euros.
The European Central Bank and other authorities approved the change of control procedure.
The underwriting of Solaris' third-party allotment of new shares is subject to shareholder approval on March 14.
SBI Ventures Two will hold about 89% of Solaris' voting rights following the change.
Price (JPY): $4396.00, Change: $-130, Percent Change: -2.79%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.