Naigai Trans Line: IAPF2 tender offer succeeds, ownership changes

IAPF2 Co., Ltd. has announced the successful completion of its tender offer for shares of Naigai Trans Line Co., Ltd (TSE:9384), effective April 21, 2025. With the tender offer completed, IAPF2 is expected to become the new parent company and largest shareholder of Naigai Trans Line as of April 28, 2025, with 6,455,448 shares acquired, representing 65.68% of voting rights. The total number of shares tendered exceeded the minimum requirement of 4,430,600 shares. Consequently, AST Co., Ltd. will no longer be the principal shareholder. The tender offer price was set at JPY 4,065 per share. IAPF2 intends to proceed with measures to delist Naigai Trans Line from the Tokyo Stock Exchange.