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BRIEF-Kitamura plans capital and business alliance with Culture Convenience Club
May 15, 2017 / 7:24 AM / 6 months ago

BRIEF-Kitamura plans capital and business alliance with Culture Convenience Club

May 15 (Reuters) - Kitamura Co Ltd :

* Says co plans to form a business and capital alliance with Culture Convenience Club Co Ltd

* Says co will issue 3 million new shares via private placement to Culture Convenience Club Co Ltd, raising 2.1 billion yen in total on June 1

* Culture Convenience Club will also buy 2.2 million shares of co from co’s shareholder Kitamura Holdings

* Culture Convenience Club will raise stake in co to 29.72 percent from 5.59 percent and will be the top shareholder

* Kitamura Holdings will lower stake in co to 0 percent from 12.34 percent

* Shareholding structure will be changed on June 1

Source text in Japanese: goo.gl/2n66dA

Further company coverage: (Beijing Headline News)

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