In a strategic leap, Swedish private equity titan EQT unveils a daring $1.37 billion maneuver to delist Japan’s education giant Benesse Holdings from the Tokyo Stock Exchange, embarking on a visionary journey to reshape the company’s future.
EQT To Take Japan Benesse Private : EQT’s Ambitious Bid
In a bid to fuel Benesse Holdings’ expansion, EQT AB Group announces an audacious plan to initiate a tender offer at 2,600 Japanese yen per share, targeting a substantial 80 million shares in Benesse Holdings Inc. This move signals EQT’s intent to take the renowned Japanese education and nursing care service provider private in a transformative deal.
The Fukutake Family’s Stake
Despite this seismic shift, the founding Fukutake family remains intricately tied to the company, retaining an influential 17.11% stake, translating to approximately 16.5 million shares. Founded by Tetsuhiko Fukutake and now led by his billionaire son Soichiro Fukutake, Benesse Holdings has become a cornerstone in Japan’s educational landscape.
EQT To Take Japan Benesse Private: Legal Maneuvers
Navigating the legal landscape, Japanese law firm Anderson Mori & Tomotsune Gaikokuho-Kyodo-Jigyo serves as Benesse Holdings’ legal adviser in this intricate dance of acquisitions. Details on EQT’s legal counsel remain elusive.
EQT To Take Japan Benesse Private : Market Dynamics
Following this revelation, Benesse’s shares experience a 6.5% surge at the Tokyo Stock Exchange’s closure on Friday, reaching 1,908 Japanese yen, a notable uptick from Thursday’s closing at 1,791.5 Japanese yen.
Educational & Financial Landscape
Benesse, a stalwart in Japan’s education sector and the premier operator of fee-paying nursing care homes, emerges as a prime target for EQT. With a robust $2.7 billion in net sales for the year ending March 2023, Benesse stands as a financial powerhouse in these burgeoning sectors.
