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Blackstone Plans to Buy Japan E-Comic, IT Services Company Infocom

By Kosaku Narioka


Blackstone plans to buy Japanese e-comic and information-technology services company Infocom.

The U.S. investment company said Tuesday that its funds and vehicles would start a tender offer for shares of Infocom, a unit of Japanese chemical company Teijin.

Blackstone said its entities would spend 141.39 billion yen ($896.4 million) for the tender offer, or Y6,060 a share.

The U.S. company said Infocom would buy back the 58% stake held by Teijin following the tender offer.

The tender offer period runs from June 19 to July 31.

Teijin said in May that it would carry out strategic options for unprofitable or non-core businesses so it can invest for growth and reward shareholders.

The company runs material, fiber and health-care businesses, in addition to its information-technology business, which is the smallest by revenue.


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(END) Dow Jones Newswires

June 18, 2024 04:46 ET (08:46 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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