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.Â
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.
