Carlyle to buy Japanese testing-tools maker Rigaku to help IPO pursuit By Reuters

© Reuters. FILE PHOTO: The logo of The Carlyle Group is displayed at the company’s office in Tokyo

TOKYO (Reuters) – U.S. buyout firm Carlyle Group (NASDAQ:) said on Wednesday it will buy Japan’s Rigaku Corp, confirming a media report from earlier in the day that put the deal value at about $1 billion, as the manufacturer of X-ray-based testing tools plans to go public.

If a deal comes through, it could be the first investment of Carlyle Group’s new Japan-focused buyout fund worth 258 billion yen ($2.5 billion), its fourth and biggest to date in a country where global buyout funds are expanding in recent years.

Carlyle will own about 80% of Rigaku while 20% stake will remain with the chief executive officer of Rigaku, the U.S. firm said in a statement, but did not provide details of the deal value.

Earlier in the day, the business daily said Carlyle’s investment is expected to be about 100 billion yen ($972.9 million).

Founded in 1951, Rigaku provides X-ray analysis, measurement and testing instruments for a wide-ranging industries including semiconductor manufacturing and pharmaceuticals.

By partnering with Carlyle, Rigaku “will seek to list the holding company in the coming years,” the Japanese company said in a separate statement, adding that its annual revenue stands at about 44 billion yen, around two-thirds of which were generated overseas.

($1 = 102.7900 yen)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button