KKR Completes Tender Offer For Hitachi Transport System; Says About 51.11% Of Shares Tendered

Investment firm KKR & Co. Inc. (KKR) said it has completed tender offer for the common shares of Japan's Hitachi Transport System Ltd. or "HTS". About 51.11% of the common shares have been tendered in the offer.

The cash tender offer was through HTSK Co., Ltd., a special purpose entity owned by the investment funds managed by KKR. Approximately 51.11% of the common shares have been tendered and will be acquired by HTSK. Settlement of the tender offer will commence on December 6, 2022.

In addition, HTSK will acquire the remaining shares of HTS through a squeeze-out process which, combined with a buyback by HTS of the shares held by Hitachi Ltd., will result in HTSK owning 100% of the shares of HTS.

HTS will be renamed LOGISTEED, Ltd. from April 1, 2023.

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