Property developer ES-CON Japan (TYO:8892)has signed a share purchase agreement to acquire 100% of Ark Real Estate for over 11 billion yen, making it a consolidated subsidiary.
The acquisition price was determined based on the mark-to-market valuation of owned real estate properties, with financial due diligence confirming no significant concerns regarding net assets.
The share transfer is scheduled for Oct. 30, according to its Tokyo bourse filing on Thursday.
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