direct/ All Nippon Airways Co Ld: Notice of Transfer of Shares of Subsidiary Companies and Hotel AssetsTOKYO April 13, 2007 The ANA Board of Directors today decided to transfer the shares and assets of 14 subsidiary companies relating to ANA Group´s owned and leased hotels. Details of the transfer follow below:
1. Reason for Transfer
To dispose of ANA Group´s owned and leased hotel assets in line with its 2006-2009 Midterm Corporate Strategy, as announced on January 31, 2006.
2. Transferred Companies and Properties
ANA Property Management Co., Ltd, ANA Hotel Management Co., Ltd, ANA Hotel Tokyo Co., Ltd, ANA Hotels Okinawa, Inc., ten hotel subsidiary companies and three real estate properties.
3. Date of Transfer
April 13, 2007: Decision of Board of Directors and conclusion of transfer contract
June 1, 2007: Transfer (planned)
i. Company name: Y.K. Shiroyama Properties*
ii. CEO: Mr Tomoaki Yamada
iii. Registered Address: Koto-ku, Tokyo
*Shiroyama Properties is a Yugen Kaisha (Y.K.) formed by a fund managed by Morgan Stanley, and has no link in terms of equity or personnel with the ANA Group.
5. Number of Shares to be Transferred and Status of the Shareholding after Transfer
All shares in the said 14 subsidiary companies will be transferred; ANA Group will hold no interest in the said companies after the transfer.
6. Transfer Price
281.3 billion yen
For reference only: the value of the hotel segment assets was 150.3 billion yen as of March 31, 2006.
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