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Septeni to Acquire Mediahouse Holdings

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Septeni Holdings (TYO:4293) plans to purchase shares of Mediahouse Holdings and make it a subsidiary, according to a Friday filing on the Tokyo Stock Exchange.

Under the deal, Septeni will acquire 954,900 Mediahouse shares for an estimated cost of 10.84 billion yen. The transaction is expected to be completed on Nov. 4, following which the buyer will own 100% voting rights in the target.

Mediahouse Holdings, established in 1983, has a capital of 50 million yen. Major shareholders of the company, as of Aug. 31, include HK Inc. (24.7%), Mediahouse Holdings Group Employee Stock Ownership Plan (20.7%), and Keisuke Hatouchi (16.5%), the filing said.

Shares of Septeni Holdings fell over 1% in recent trade.

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