TOKYO (Reuters) – U.S. private equity firm Bain Capital LLC plans to acquire Japan Wind Development Co Ltd through a tender offer in a deal worth up to 9.7 billion yen ($81 million), the Nikkei business daily reported on Monday.
Bain plans to offer 580 yen per share in Japan Wind Development, the nation’s third-largest wind power company and listed on the second section of the Tokyo Stock Exchange, according to the report. The tender offer is expected to start from March 24, the Nikkei said.
The price would be 25 percent premium over the company’s closing share price on Friday. Bain plans to purchase all shares through a company jointly established by Japan Wind Development President Masayuki Tsukawaki, the paper said.
The Tokyo Stock Exchange temporary halted trading in Japan Wind Development shares following the report.
($1 = 120.0100 yen)