SYLA Technologies Enters Into Basic Agreement Regarding A Business Alliance With RIBERESUTE To Acquire 2,158,800 Shares From Four Of Its Shareholders To Become The Largest Shareholder; To Be Completed Mid Jan. 2024
Portfolio Pulse from Benzinga Newsdesk
SYLA Technologies has agreed to acquire 2,158,800 shares from four shareholders of RIBERESUTE, aiming to become its largest shareholder by mid-January 2024. Alongside the share acquisition, SYLA has entered into a Basic Agreement on Business Alliance with RIBERESUTE to negotiate a business alliance involving property transactions, marketing, and new product development. The agreement also restricts RIBERESUTE from entering into capital alliances or facilitating share purchases with third parties without SYLA's consent until March 31, 2024.
November 15, 2023 | 2:02 pm
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POSITIVE IMPACT
SYLA Technologies' acquisition of a significant stake in RIBERESUTE and the subsequent business alliance could lead to potential growth and collaboration opportunities, positively impacting SYT's stock in the short term.
The acquisition of a large stake in RIBERESUTE positions SYLA Technologies as a key player and largest shareholder, which typically is viewed positively by investors as it may lead to synergies and enhanced market position. The business alliance could also open new avenues for revenue and strategic growth. However, the full impact will depend on the successful negotiation and implementation of the alliance.
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