KKR Takes 35 Pct Stake in Fuji Soft via 1st Tender Offer

Tokyo, Nov. 6 (Jiji Press)--U.S. investment fund KKR said Wednesday that it has successfully completed the first stage of its tender offer for Japan's Fuji Soft Inc. by taking an equity stake of 35 pct.

Meanwhile, rival U.S. investment fund Bain Capital LP plans to make a counteroffer to acquire the Yokohama-based system developer.

KKR offered to buy Fuji Soft shares at 8,800 yen each from Sept. 5 to Tuesday. Singapore asset management company 3D Investment Partners Pte., which had been the largest shareholder of Fuji Soft, was among those that accepted the offer.

KKR will move on to the second stage as early as mid-November, as it seeks to acquire a bigger stake and take Fuji Soft private. The acquisition price will be unchanged.

Bain, for its part, hopes to launch its tender offer in early November if Fuji Soft approves, planning to buy Fuji Soft shares at 9,450 yen each.

[Copyright The Jiji Press, Ltd.]