加地テック, which manufactures air and gas compressors under Mitsui E&S, is expected to be transferred to Corporate Support Research Institute (CSRI) through a tender offer, with CSRI No. 17 conducting the offer.
Mitsui E&S plans to transfer its subsidiary 加地テック to CSRI to eliminate the risk of conflicts of interest associated with a parent-subsidiary listing and concentrate management resources on its core businesses, including marine propulsion systems and logistics systems. The transfer is planned to take place through a tender offer, and 加地テック has announced its support for the offer.
The tender offeror is CSRI No. 17. The tender offer price is ¥7,957 per share, representing a 53.91% premium to the pre-announcement closing price of ¥5,170. No maximum number of shares to be purchased has been set, while the minimum is 258,300 shares. The maximum purchase consideration is approximately ¥6.44 billion. The offer period is from 11 November to 23 December 2026, with settlement on 30 December.
After the tender offer is completed, 加地テック is expected to be delisted from the Tokyo Stock Exchange Standard Market, and CSRI No. 17 is ultimately expected to make 加地テック a wholly owned subsidiary. Mitsui E&S does not plan to tender its shares, and 加地テック will purchase Mitsui E&S's 51.06% stake after the tender offer is completed.
加地テック was founded in 1905 and began manufacturing air compressors. It is currently listed on the Second Section of the Osaka Securities Exchange. The company changed its name to its current name in 1991, moved to the Second Section of the Tokyo Stock Exchange in 2013, and transferred to the Tokyo Stock Exchange Standard Market in 2022.