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Hankyu Takes over Hanshin, Buying 64% of Shares

6, 20. 2006

Hankyu Holdings Inc. announced on Jun. 20 that it acquired 63.7% of issued shares of Hanshin Electric Railway Co., in a tender offer continued until Jun. 19. Hankyu began the takeover bid on condition that it would obtain at least 45%. Hankyu said the deal came into effect.

Two companies will be integrated as Hankyu Hanshin Holdings Inc. on Oct. 1, becoming the third largest private railway company group by consolidated revenue, after Tokyu Corp. and Kinki Nippon Railway Co. Ltd.

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