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Japan's Sapporo Holdings is set to sell its real estate business to an investor consortium led by private equity firms KKR and PAG in a deal valued at over 400 billion yen. According to public broadcaster NHK, the transaction will see Sapporo divest more than half of the unit's shares, marking a major step in shedding non-core assets. The move follows sustained pressure from activist investors, including Singapore-based 3D Investment Partners, which had urged the company to spin off the real estate arm. The new owners are expected to focus on attracting tenants and improving profitability. Sapporo has not officially confirmed the deal, while KKR and PAG declined to comment.
Japan's Sapporo Holdings will sell its real estate business to an investor group made up of private equity firms KKR and PAG for more than 400 billion yen ($2.57 billion), public broadcaster NHK said on Wednesday. Advertisement
The deal marks the latest instance of Japanese firms offloading non-core assets and comes after a lengthy battle with activist investors including Singapore-based 3D Investment Partners, which has been pushing for the brewer to carve out its real estate business.
Sapporo will sell over half of the business' shares to the KKR-PAG group, NHK said, without clarifying the source of the information.
The new owners will seek to attract new tenants and raise profits, NHK said.
Sapporo said the information was not announced by them and had no further comment. KKR declined to comment. PAG did not immediately respond to a request for comment.
If completed, this transaction would rank among the larger real estate-related deals in Japan this year, underlining continued interest from international private equity firms in the country's property market.
Source: Reuters
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