Yoshiaki Murakami plans bid for Japan Asia Group Ltd

A Japanese fund backed by veteran investor Yoshiaki Murakami plans to make a $173 million bid for energy and environment firm Japan Asia Group Ltd. (JAG), topping a management buyout offer backed by The Carlyle Group.

City Index Eleventh said on Thursday it would offer 840 yen per share for JAG, a 40% premium to Carlyle’s offer of 600 yen.

JAG is the latest company to become a battleground between Murakami’s fund and a global private equity firm, following Bain Capital’s failed bid for the printing firm KOSAIDO Co Ltd in 2019.

Leave a Reply