Blackstone agrees to buy Japanese manga firm for US$1.7 Billion
Blackstone has emerged as the buyer of a 55.1 per cent stake in Infocom held by Tokyo-listed Teijin
BLACKSTONE has agreed to buy Japanese e-comics provider Infocom Corp, according to people familiar with the matter.
The world’s largest alternative asset manager has emerged as the buyer of a 55.1 per cent stake in Infocom held by Tokyo-listed Teijin, the people said, asking not to be identified because the matter is private. A deal may value Infocom at about US$1.66 billion, one of the people said.
Blackstone may seek to eventually acquire all of Infocom’s shares through a takeover bid and share transfer, the people said.
Blackstone has been picked as the buyer after outbidding rivals, the people said. Sony Music Entertainment, Japanese fund Integral and KKR & Co had also been interested in an acquisition, Bloomberg News reported earlier this month.
Representatives for Blackstone and Teijin declined to comment.
New York-listed Blackstone had US$1.1 trillion in assets under management as of the end of last year.
Teijin, which is up about 24 per cent from a February low, has been seeking to trim its non-core operations. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Can a first-time homebuyer couple earning S$18,000 a month afford a new EC unit?
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
Asia needs new energy security architecture
Chagee, Mixue and Luckin won the market. Sustaining their edge is the harder part
