MBK takes over Japanese jewellery brand Tasaki
The financial sponsor pays $65 million to buy control of Tasaki Shinju with the intent of restructuring the company.
Private equity firm MBK Partners will invest Ñ7 billion $65 million to become the controlling shareholder in Japanese jewellery brand Tasaki Shinju.
MBK will buy 35,000,000 new convertible preferred shares of Tokyo-headquartered Tasaki, subject to approval by the company's shareholders at an extraordinary general meeting scheduled in September. It did not provide further details of the new shares being issued. Taking a simplistic assumption that each preferred share converts into one common share, MBK will ultimately own 48% of Tasaki's...
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