Goldman leads $1.2 billion bid for Japan theme park »
Posted By myfairlady 9 months ago in Business & FinanceTOKYO (Reuters) - USJ Co Ltd, the operator of a struggling Universal Studios theme park in Japan, said on Thursday it was being sold for $1.2 billion to a consortium led by Goldman Sachs.
The deal, the biggest such buyout in Japan in a year, was at a 28.5 percent premium to USJ's share price before the offer became public.
Customer numbers at the Osaka theme park, which features rides based on the movies Spiderman and Jurassic Park, have fallen in the midst of the global financial crisis and its shares have halved in value since 2007.
The new group would upgrade the theme park, including introducing new attractions and characters, the Goldman fund said in a statement.
It said the theme park faced tough growth prospects in tough times and as Japan's population ages.
Goldman, which holds about 40 percent of USJ through its fund, said private equity firm MBK Partners and Owl Creek Asset Management would take stakes in the privatized company.
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