Japanese banks take lead as Bain wins Bellsystem24

17 Nov 2009

Bain Capital emerged as the winning bidder in the race for Japanese telemarketing firm Bellsystem24 on Sunday with a ¥93.5bn ($1bn) bid that looks likely to be financed with debt from a group of Japanese banks.

Bain overcame competition from two of its buy-out rivals for the controlling stake, which is being sold by Citi. The offer of ¥93.5bn for a 93.5% stake is expected to be followed this week by a tender offer for the remaining share, with the acquisition to be completed ...

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