Latest news with #Fujitec
30-07-2025
- Business
Swedish Fund EQT to Buy Japan's Fujitec
News from Japan Jul 30, 2025 19:28 (JST) Otsu, Shiga Pref., July 30 (Jiji Press)--Swedish investment fund EQT AB said Wednesday that it will acquire major Japanese elevator maker Fujitec Co. The fund plans to take Fujitec private through a tender offer to be launched in late January next year. The Japanese company has expressed its support for the tender offer. The fund will purchase Fujitec shares at 5,700 yen apiece for a total of some 407.8 billion yen. Fujitec's management has been in turmoil due to a conflict between the founding family and an activist shareholder. The company, based in Hikone in the western Japan prefecture of Shiga, aims to rebuild its business under EQT and pursue a long-term growth strategy. Oasis Management Co., a Hong Kong-based investment fund known as an activist investor, holds a stake of about 30 pct in Fujitec, while U.S. asset management firm Farallon Capital Management LLC has a stake of over 6 pct. According to Fujitec, Oasis Management and Farallon Capital Management have agreed to tender their shares. [Copyright The Jiji Press, Ltd.] Jiji Press
CNA
30-07-2025
- Business
- CNA
European investment firm EQT to take Japan's Fujitec private for $2.7 billion
TOKYO :European investment firm EQT will launch a $2.7 billion tender offer for Fujitec at 5,700 yen per share, the Japanese elevator maker said on Wednesday. Following completion of the tender offer, EQT would own 85 per cent, while Fujitec's founding family would roll over a 15 per cent minority stake, EQT said in a statement. The deal via EQT's BPEA Private Equity Fund IX, its latest Asia-focused buyout fund, would be the firm's largest buyout in Japan and the largest private equity-led take-private deal this year, the firm said. Shares in Fujitec plunged 9.5 per cent to 5,616 yen in early Tokyo trade. Founded nearly 80 years ago and headquartered in Shiga, Japan, Fujitec is the only independent, full-scope elevator and escalator original equipment manufacturer in Japan with presence in 24 markets globally, EQT said. The investment firm is planning to work with Fujitec's management to improve its operations, accelerate digitisation and expand in Japan, India, North America and Southeast Asia, it said. EQT's tender offer comes as mergers and acquisitions involving Japanese companies reached a record $232 billion in the first half of this year. The government's call for better corporate governance, including the privatisation of listed subsidiaries, as well as outbound acquisitions by Japanese firms seeking new growth avenues, will keep igniting mega deals, bankers have said. A host of global investment firms are beefing up headcount in Japan as deals surge, Reuters has reported. EQT, which established its Tokyo office in 2006, has received commitments of $11.4 billion for the latest Asia-focused buyout fund, according to a statement earlier this month. The fund is expected to reach its $14.5 billion hard cap at final close in 2026, it said.
Wall Street Journal
30-07-2025
- Business
- Wall Street Journal
EQT Plans to Take Fujitec Private Through $2.7 Billion Tender Offer
Swedish investment company EQT plans to take Fujitec, the Japanese maker of elevators and escalators, private through a $2.7 billion tender offer. EQT said Wednesday that it would own 85% of Fujitec and its founding family would retain the remaining 15% stake following the privatization.
CNA
30-07-2025
- Business
- CNA
European fund EQT to take Japan's Fujitec private for $2.7 billion
TOKYO :European investment fund EQT will launch a $2.7 billion tender offer for Fujitec at 5,700 yen per share, the Japanese elevator maker said on Wednesday. Following completion of the tender offer, EQT would own 85 per cent, while Fujitec's founding family would roll over a 15 per cent minority stake, EQT said in a statement. Shares in Fujitec plunged 9.5 per cent to 5,616 yen in early Tokyo trade. ($1 = 148.4400 yen)
Reuters
30-07-2025
- Business
- Reuters
European fund EQT to take Japan's Fujitec private for $2.7 billion
TOKYO, July 30 (Reuters) - European investment fund EQT ( opens new tab will launch a $2.7 billion tender offer for Fujitec (6406.T), opens new tab at 5,700 yen per share, the Japanese elevator maker said on Wednesday. Following completion of the tender offer, EQT would own 85%, while Fujitec's founding family would roll over a 15% minority stake, EQT said in a statement. Shares in Fujitec plunged 9.5% to 5,616 yen in early Tokyo trade. ($1 = 148.4400 yen)
