Risks Related to Obtaining CFIUS and Other Approvals for the Acquisition of Cavalier Logistics
First written in FY2024-Q1. 1 of 2 entries say "Materialised", first in FY2024-Q1. Latest entry: FY2024-Q2.
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- FY2024-Q2MitigatedAnnual report
「On 2 October 2023, Holding Company acquired, for cash consideration, shares equivalent to 90% of the total issued shares of the Cavalier Logistics Group and, by accepting an in-kind contribution of shares in the Cavalier Logistics Group equivalent to the remaining 10% in exchange for newly issued shares equivalent to 10% of Holding Company's shares, acquired all of the issued shares of the Cavalier Logistics Group.」
The acquisition, whose scheduled completion date had been changed due to the CFIUS approval review, was completed on 2 October 2023, reducing uncertainty regarding approval and completion. - FY2024-Q1MaterialisedAnnual report
「This acquisition was conditional on approval and authorisation from the relevant authorities. The share transfer completion date was initially scheduled for 1 August 2023, but, after taking into account the time required for the Committee on Foreign Investment in the United States (CFIUS) approval review, the scheduled completion date was changed to 2 October 2023.」
Approval from the relevant authorities was a condition to completing the acquisition, and the scheduled completion date was changed because of the time required for CFIUS approval review.