Japan's Genki Sushi, Sushiro to merge -source

Food & Life Companies

29/09/2017 02:49

TOKYO, Sept 29 (Reuters) - The owner of Japan's restaurant 
chain Genki Sushi Co  9828.T  will buy a one-third stake in 
bigger rival Sushiro Global Holdings Ltd  3563.T  from private 
equity firm Permira  PERM.UL , a person with direct knowledge of 
the deal said.  
    Permira, which bought Sushiro in 2012, will sell the stake 
to Genki Sushi owner Shinmei Co, said the person, asking not to 
be identified because he is not authorised to speak to media.  
    Shinmei will merge Sushiro with Genki Sushi, the person 
said.  
    A Permira official declined to comment on the sale, which 
was first reported by the Nikkei business daily on Friday.  
    Sushiro and Genki Sushi said in separate statements they 
were discussing the reported transaction at a board meeting on 
Friday. 
 
 (Reporting by Junko Fujita; Editing by Chang-Ran Kim) 
 ((813-6441-1840, junko.fujita@thomsonreuters.com, Reuters 
Messaging:junko.fujita.reuters.com@reuters.net;)) 
 
Keywords: JAPAN SUSHI/M&A