[Alpha Biz= Reporter Kim Sangjin] MBK Partners, a South Korean private equity firm, has sold the Japanese jewelry brand Tasaki for approximately 9.3 trillion won.
According to investment banking industry sources and major foreign media on December 2, MBK Partners sold its 100% stake in Tasaki to a consortium of Hong Kong-based private equity firm FountainVest and Japanese Unison Capital. The sale price is approximately 100 billion yen (9.3 trillion won).
MBK Partners had selected Daiwa Securities as the sale's lead underwriter in November last year and had been working on the divestment of Tasaki. A stock purchase agreement (SPA) was signed with the acquiring party in June.
Through this sale, MBK Partners is expected to earn an investment profit of about 500 billion won. MBK initially invested 95 billion won to acquire an 80% stake in Tasaki in 2008, and later increased its stake to 100% in 2016.
Founded in 1954, Tasaki operates more than 30 stores in Japan.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
