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Carlyle strikes deal for Japanese lighting specialist

The Carlyle Group is to acquire Japanese lighting solutions provider Iwasaki Electric through a tender offer valuing the business at JPY34.9 billion ($266 million), according to a report by Deal Street Asia. 

The Carlyle Group is to acquire Japanese lighting solutions provider Iwasaki Electric through a tender offer valuing the business at JPY34.9 billion ($266 million), according to a report by Deal Street Asia. 

The report says a company filing confirms that Iwasaki Electric’s board has backed Carlyle’s acquisition of 7.35 million shares, which equates to a 94% holding in the business, for 4,460 yen ($34.06) each. 

Iwasaki, which was founded in 1944 and currently employs 1,687 people, specialises ins lighting projects for sports stadiums, hospitals, and universities in Japan. 
 

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