trending Market Intelligence /marketintelligence/en/news-insights/trending/4g_lXdKFnkmso0UP_ly64A2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Unizo gears up for privatization via Lone Star-backed ¥175B employee buyout bid

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


Unizo gears up for privatization via Lone Star-backed ¥175B employee buyout bid

Unizo Holdings Co. Ltd. is planning to delist through a ¥5,100-per-share buyout bid that is being prepared by its employees with the backing of Lone Star Global Acquisitions Ltd., The Nikkei reported.

Chitocea Investment Co., a 73/27 venture between an employee-created entity and Lone Star, is making the tender offer that will run until Feb. 4, 2020, according to a Dec. 22 filing. The acquisition will involve all of Unizo's shares except for treasury stock, the publication reported.

Lone Star will raise nearly ¥175 billion to finance the transaction. The fundraising will be carried out with the help of Tokai Tokyo Services Co. Ltd. and will involve the U.S. private equity firm subscribing to up to ¥45 billion in preferred shares and providing up to an additional ¥130 billion to the offering entity.

Aside from Unizo's eventual delisting, the employee buyout will also lead to the resignation of the company's 43 officials, including Unizo CEO Tetsuji Kosaki. While the takeover is being carried out, Unizo's assets will be managed by a Lone Star-advised team of Unizo employees.

In light of the target-recommended takeover proposal, which reflects a 4% premium to Unizo's Dec. 20 closing price, the Japanese hotel chain operator will cease negotiations with other suitors including The Blackstone Group Inc. and the SoftBank Group Corp.-backed Fortress Investment Group LLC, the paper added Dec. 23.

As of Dec. 20, US$1 was equivalent to ¥109.47.