BancTech To Go Private Via MBO

BancTech Japan Inc., a listed information technology company announced that it approved a tender offer launched by BT investment Co., an investment firm established by the CEO of BancTech Japan Inc. Jafco, a leading VC firm, is the top shareholder, who agreed to the tender offer. BT investment aims to acquire all shares at 84,500 (last week closed at 48,800 yen) with a cost of around 10 billion yen. It uses mezzanine finance provided by Chuo Mitsu Capital Co., an investment arm of Chuo Mitsui Trust Group. BancTech will be delisted from the Jasdaq market.