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KKR’s stake in Fuji Soft blocks Bain’s acquisition plans
KKR, a private equity firm, has reportedly acquired over one-third of the shares in Japanese software company Fuji Soft.
The acquisition is part of a two-phase buyout, says a source familiar with the transaction.
KKR’s exact share in Fuji Soft is undisclosed, but it could block Bain Capital’s bid to take the company private.
3D Investment Partners and Farallon Capital, holding 32.7% of Fuji Soft, agreed to sell their shares to KKR for 8,800 yen (US$59) each.
Bain Capital offered 9,450 yen (US$63.32) per share but needs management approval.
KKR will launch the second phase of its offer at 8,800 yen (US$59) per share after the first phase.
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