DRC To Tender Offer For Kojitsu

DRC Capital Ltd., a Tokyo-based midsized buyout firm, announced that DRC will make a tender offer for Kojitsu Co., Ltd., a climbing goods store operator. The TOB price is set at 130 yen, a 35.4% premium over a 3 month average. DRC is the second largest shareholder (17%). Japan Fine Art Co., the laregest shareholder (28%), accepted the offer. The deal size maximum consideration is about 3.14 billion yen.