TOKYO – U.S. private equity firm KKR & Co (NYSE: KKR) plans to help Japanese system developer Fuji Soft go private under a management buyout worth about 600 billion yen ($4.09 billion), the Nikkei Business Daily reported on Wednesday.
Fuji Soft is planning the buyout to improve its capital efficiency amid ongoing conflicts with its major shareholders, including Singapore-based 3D Investment Partners, the Nikkei said.
In a late Wednesday statement, Fuji Soft said a special committee consisting of its external board directors is considering value-maximizing options, including the privatization plan.
The board will meet on Thursday to discuss privatization and the company will soon disclose if any decision is made, Fuji Soft said.
($1 = 146.6200 yen)
(Source: Reuters)
Kevin Putnam is a financial journalist and editor based in New York. He specializes in editing news and analysis related to U.S. stock market.
