AC Corp. Buys Able & Partners

Japanese Able & Partners Inc., a holding company with real estate operations, said on Friday that it has agreed to be purchased by AC Corp. in a deal priced at 33 billion yen ($407 million). AC Corp, which is owned by Able & Partners’ chairman, will pay 580 yen per Able share in a management buyout from April 16 to May 30.

(Reuters) – Japanese Able & Partners Inc , a holding company with real estate operations, said on Friday that it has agreed to be purchased by AC Corp in a deal priced at 33 billion yen ($407 million).

 

AC Corp, which is owned by Able & Partners’ chairman, will pay 580 yen per Able share in a management buyout from April 16 to May 30.

 

The announcement came after the close of trade on Friday. Able & Partners shares closed at 432 yen. ($1 = 80.90 Japanese yen) (Reporting by Mayumi Negishi; Editing by Edmund Klamann)