Cre terminates capital and business alliance with Kenedix
Cre, Inc. (TSE:3458) announced today the termination of its capital and business alliance with Kenedix, Inc., effective immediately. This decision follows the successful tender offer by SMFL MIRAI Partners Company, Limited, which resulted in them acquiring 10,552,842 shares of Cre's stock, giving them a 70% stake. Subsequently, the company expects that SMFL MIRAI Partners and Kyobashi Kousan, Inc. will take Cre private by creating a joint venture. These ownership changes have triggered a reassessment of Cre's strategic direction, making the alliance with Kenedix no longer optimal. One external director dispatched by KDX will resign following the dissolution of this alliance. The company believes that this termination will not have a material impact on Cre's financial results.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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