Unison Capital has announced that it will sponsor the MBO of Enoteca Co. (3049) alongside with H.C.B.C. Enterprises Ltd., an investment firm headed by the wine importer's board member George Joseph Ho. JPY 6.2 billion will be spent to buy Enoteca stock via a tender offer. It is offering 120,000 yen per share -- a 46% premium over Wednesday's closing price.
According to the press release, the discussion between Enoteca management and Unison started as late as October last year. The recent surge of high-end wine prices has put pressure on the company's profitability, while Chinese consumer's strong demand for french wines opted the wine importer to expand into nearby Asian markets with the support of Unison.
February 03, 2011
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