“K” LINE BIDS TO BUY OUSTANDING STOCK IN KOBE COMPANY

“K” LINE BIDS TO BUY OUSTANDING STOCK IN KOBE COMPANY

“K” LINE BIDS TO BUY OUSTANDING STOCK IN KOBE COMPANY

   The Japanese group “K” Line will commence a takeover bid to acquire the 49-percent shareholding it does not already own in Kobe Nippon Kaisha, Ltd., a shipping company based in Kobe.

   The period for the takeover bid will start on Feb. 4 and end on Feb. 29. “K” Line said it would pay 71 yen (68 U.S. cents) per share for the 11.7 million outstanding shares.

   “K” Line said that it wants to practice overall management of the group companies and rearrange its business composition.