Japan's Hulic to buy Simplex for 155b yen amid many bids

Tokyo

JAPANESE developer Hulic Co will buy Tokyo-based Simplex Investment Advisors for about 155 billion yen (S$1.16 billion) from US investment Aetos Capital in Japan's largest property deal this year, the two firms said on Wednesday.

Hulic, which has been expanding its property development and acquisitions in Japan, only plans to keep Simplex's properties and will sell other assets to a unit of Mizuho Financial Group, it said in the statement. Aetos also confirmed the deal in a separate statement.