Warburg Pincus has made a tender offer to acquire Japanese student housing company JSB Co in a JPY190bn (鈧�1bn) deal.
The US private equity firm is offering JPY9,000 per share and JPY1,735,000 per stock option to take the company private, a proposal JSB鈥檚 board has recommended to shareholders.
Warburg Pincus has already secured tender agreements from the company鈥檚 two largest investors, the Oka Family and Hikari Tsushin Group, who hold a combined stake of over 58%.
Following the transaction, the Oka Family is expected to remain a long-term shareholder through a planned re-investment.
Founded in 1976, JSB is the leader in Japan鈥檚 student housing sector, managing approximately 100,000 units across some 2,700 properties nationwide.
Takashi Murata, head of Japan and co-head of Asia Real Estate at Warburg Pincus, said: 鈥淲e believe this partnership positions JSB to capture the significant long-term opportunities emerging from Japan鈥檚 evolving student housing market and further strengthen its position as the country鈥檚 leading integrated student living and services platform.鈥�
Vishal Mahadevia, head of Asia private equity at Warburg Pincus, said: 鈥淛SB exemplifies the high-quality businesses we seek to back across Asia Pacific through our long-term partnership approach.鈥�
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