KKR moves to privatize Japan's Taiyo Holdings in $3.3 billion deal
Global investment firm KKR announced plans to privatize Japanese chemical manufacturer Taiyo Holdings through a $3.33 billion tender offer. The proposal values Taiyo at 528.56 billion yen, with an offer price of 4,750 yen per share, representing a 4.7% discount to the company's most recent closing price.
The move has received backing from major stakeholders, including DIC Corp, Kowa Co, and Oasis Management, which together hold more than 42% of Taiyo’s outstanding shares. Agreements with DIC and Kowa include selling shares through a consolidation and buyback after the deal closes. Taiyo’s founding family plans to reinvest in the KKR-managed investment vehicle that will own the company.
Oasis Management will also tender its shares, representing about 15.6% of Taiyo's total stock. This privatization effort aligns with KKR’s strategy of acquiring established industrial firms and optimizing long-term operational performance.
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