By Kane Wu April 22 (Reuters) - Swedish private capital group EQT is exploring a takeover of Japanese price comparison website operator Kakaku.com, a person with knowledge of the matter told Reuters.
EQT Eyes Potential Takeover of Japanese Price Comparison Giant Kakaku.com
Swedish Private Capital Group Considers Acquisition of Kakaku.com
By Kane Wu
April 22 (Reuters) - Swedish private capital group EQT is exploring a takeover of Japanese price comparison website operator Kakaku.com, a person with knowledge of the matter told Reuters.
Preliminary Stages of the Potential Deal
The plan, however, is in preliminary stages and there is no certainty the company will launch a tender offer for Kakaku, said the person, who declined to be named as the information was confidential.
EQT declined to comment.
Media Reports and Official Responses
Bloomberg first reported the news late on Wednesday.
Kakaku said in a statement on Thursday the Bloomberg report was not based on any of its announcements.
Kakaku's Corporate Value Strategy
"While the Company is continuously exploring various measures to enhance corporate value, including capital policies, no decisions have been made at this time," the Tokyo-based company said.
Market Impact and Financial Context
Kakaku shares surged 24% on the news to close at the upper limit of 2,621 yen apiece, reaching a market cap of about 519 billion Japanese yen ($3.3 billion).
The news of a potential deal follows EQT's announcement earlier this week that it raised $15.6 billion in its latest Asia-focused buyout fund, the region's largest.
EQT's Investment Focus in Asia
The global investment company's Asia Chair Jean Salata told Reuters Japan was the most active part of its current deal pipeline.
About Kakaku.com
Founded in 1997, Kakaku now operates a series of websites including price comparisons, restaurant listings and job searches.
($1 = 159.6500 yen)
(Reporting by Kane Wu in Hong Kong; Additional reporting by Anton Bridge in Tokyo and Chandni Shah in Bengaluru; Editing by Subhranshu Sahu and Emelia Sithole-Matarise)
