KKR becomes largest shareholder in Fuji Soft after successful tender offer

Fuji Soft

08/11/2024 02:25

Nov 7 (Reuters) - Private equity firm KKR  KKR.N  has
become the largest shareholder in Japanese software developer
Fuji Soft  9749.T  after completing the first stage of a
two-part tender offer,  KKR said in a statement on Thursday.
    The U.S. firm acquired 21.4 million shares, and secured
control over 90% of outstanding share options of Fuji Soft, it
said.
    On Thursday KKR acquired a stake of 35% in the Japanese
software developer through FK Co, an entity owned by investment
funds it manages, in the first part of its two-stage buyout
tender offer.
    KKR now holds substantial influence over the Fuji Soft's
future direction, including a potential privatization, which the
company's board has previously indicated as a way to boost its
value. 
    The second phase of the tender offer, set for mid-November,
aims to acquire the remaining shares at an unchanged price of
8,800 yen ($57.46) each.
($1=153.1500 yen)

 (Reporting by Nilutpal Timsina in Bengaluru; Editing by
Clarence Fernandez)
 ((Nilutpal.Timsina@thomsonreuters.com; +91 86382 04706;))