Bain Finalizing $1.1 Billion Deal for Bellsystem24

TOKYO/NEW YORK (Reuters) – Bain Capital is finalising a roughly 100 billion yen ($1.1 billion) deal to buy Japanese telemarketer Bellsystem24 from Citigroup Inc (C.N), three sources familiar with the the matter said, in the largest buyout by a foreign private equity firm in Japan in nearly two years.

Bain has outbid Permira [PERM.UL] and a team of CVC Capital and Blackstone (BX.N), the sources said. (Reporting by Junko Fujita and Megan Davies)