Reko International (TSE:REKO) has released an update.
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The Reko Family Corporation has completely divested its majority stake in Reko International Group Inc., selling all its shares to its own subsidiary at $4.09 per share. This transaction has transferred ownership of 56.52% of Reko International’s common shares to the subsidiary, which currently has no plans to change its holding but may reconsider based on various market and business factors. The deal was conducted under a private agreement exemption, avoiding the need for a formal take-over bid.
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