Japan Tobacco, Nissin Agree on Katokichi Purchase, Nikkei Says

Source from:  By Neil Roland Nov. 20 (Bloomberg) 11/20/2007

Japan Tobacco Inc. and instant-noodle maker Nissin Food Products Co. have reached agreement on a plan to purchase food processor Katokichi Co., Nikkei English News reported, without citing sources. The acquisition price is likely to be about 100 billion yen ($910.5 million), the news service reported. Under the agreement between Japan Tobacco and Nissin Food Products, the tobacco company will make a tender offer for all Katokichi shares, delist the company and sell a 49 percent stake to Nissin, Nikkei reported. Japan Tobacco and Katokichi are likely to reach an agreement this month, the news service reported. Enditem