Japanese banks to take lead as Bain acquires Bellsystem24

19 Nov 2009

Bain Capital emerged as the winning bidder in the race for Japanese telemarketing firm Bellsystem24 last Sunday (November 15) 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 Citi is selling. The offer of ¥93.5bn for a 93.5% stake is expected to be followed this week by a tender offer for the remaining shares, with the acquisition to be completed by December ...

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