SKT Holdings Ltd enter into basic agreement to acquire 28.9% stake in Shoko Co., Ltd. (TSE:8090) from Showa Denko K.K. (TSE:4004) for¥ 2.5 billion on March 4, 2021. Under the terms of agreement, iSigma will acquire 3.16 million shares of Shoko Co. at ¥ 796 per share.

Tender offer will commence on March 5, 2021.when this tender offer is successful, SHOKO will no longer be a consolidated subsidiary of Showa Denko, which will hold 14.9% stake in Shoko Co., Ltd. The transaction is expected to be completed on April 15, 2021. SMBC Nikko Securities Inc acted as agent in the tender offer.