European buyout firm Permira is considering selling Japan’s sushi chain operator Akindo Sushiro Co in an initial public offering (IPO) and is in the process of choosing underwriters, people with direct knowledge of the matter said.
Permira bought Sushiro from a Japanese private equity firm Unison Capital in 2012 for about 80 billion yen ($724.2 million) and the value of the company has since grown to about 150 billion yen including debt, one of the people with direct knowledge of the matter told Reuters.
Permira is expected to hire banks in the coming weeks, this person said.
Permira declined to comment. The people with knowledge of the matter declined to be identified as the discussions are confidential.
(Reporting by Denny Thomas and Junko Fujita; Editing by Lisa Jucca)