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CLSA Capital sells Worldtool stake to Royal Home Center

CLSA Capital Partners sold its stake in Japanese automotive tools retailer Worldtool Co. Ltd. to Royal Home Center Co. Ltd. for an undisclosed amount, DealStreetAsia reported.

The firm's Japan-focused fund Sunrise Capital II bought a 55% stake in Worldtool in May 2015 for ¥10 billion, or US$82.8 million, the report said.

Fukaya, Japan-based Worldtool sells a range of products including self-branded automotive maintenance tools, general industrial tools, LED lights and solar panels both wholesale and in retail stores under the brand name Astro Products. It had 189 stores in Japan and six branches in Thailand.

CLSA Capital Partners is the private equity and venture capital arm of CLSA, the international platform of Chinese investment bank CITIC Securities.

As of Oct. 9, US$1 was equivalent to ¥107.38.