SBI Holdings is expected to acquire BASE shares through a TOB, obtaining up to 23.79 million shares and more than 20% of the voting rights through SBINM GK. The TOB will run from 31 August to 30 September, with the partnership proceeding on the premise that BASE will remain listed and independent.
SBI Holdings announced on 28 August that it would launch a tender offer (TOB) for BASE shares and acquire up to 23,792,300 shares at ¥340 per share. The voting rights ratio is expected to reach 20.67% after the acquisition, and the TOB will run from 31 August to 30 September. BASE has expressed its support for the TOB, while leaving the decision on whether to tender shares to its shareholders.
The partnership aims to create new business opportunities by combining the SBI Group's financial services, customer base, and media and content businesses with BASE's e-commerce and payments platform, merchant network, and ID infrastructure. BASE will remain listed, and its management autonomy and independence will be respected.
Specifically, the companies will combine IP owned or produced by the SBI Group with BASE's e-commerce capabilities to build a revenue base encompassing fan experiences in addition to merchandise sales. They will link media and events with e-commerce to increase points of contact with fans and purchasing opportunities, while also working to expand sales channels for local businesses and creators. In financial services and payments, they will explore ways to use each other's capabilities and consider integrating fan purchasing data across IP properties.
The companies will also jointly examine the Fan ID initiative and explore the potential for a financial AI agent through coordination between PAY ID and SBI's financial services.