Suntory, Kirin and Asahi anchor Skylark $987m IPO

Private equity firm Bain Capital will divest nearly a third of its stake in the Japanese restaurant chain operator, which it acquired for $2.1 billion in 2011.

Roadshows for Skylark’s planned 102.4 billion $987 million Tokyo initial public offering began on Monday, with the Japanese restaurant chain operator identifying three breweries as anchor investors.

Suntory Beer Spirits, Kirin Holdings and Asahi Breweries are pledging 4.9 billion, 4 billion and 4.1 billion, respectively, in Skylark at the IPO price, a banker close to the deal told FinanceAsia. All three are subject to six-month lockups.

Private equity firm Bain Capital will offload roughly one third of its stake in Skylark, which operates Japanese family-style restaurants such as Gusto, Steak Gusto, Jonathan’s, Bamiyan and Yume-an, once the company floats its shares.

Some...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222