Bain Capital said on Thursday it has agreed to sell its 50% stake in TV-shopping channel operator Jupiter Shop Channel JSC to Japan's largest cable TV company Jupiter Telecommunications.
The Boston-headquartered private equity firm expects the transaction to close in March after antitrust clearance.
JSC offers 24-hour live TV broadcasting. Bain Capital bought the 50% stake in infomercial firm in July 2012.
Together with Japanese trading house Sumitomo Corp., the other 50% shareholder of JSC, Bain Capital has helped JSC accelerate e-commerce channel penetration and develop a digital device strategy. These efforts boosted the firm’s profitability, Bain Capital said in...
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