Blackstone-affiliated parties and others are preparing final bids for the sale of サンケイビル, the core real estate subsidiary of Fuji HD, and the transaction value including debt is reported to have the potential to reach approximately ¥1 trillion. The final bid is expected to be submitted by the end of October.
Several parties familiar with the matter said that U.S. firms Blackstone, Bain Capital and Warburg Pincus, among others, are preparing final bids for サンケイビル, which Fuji Media Holdings is seeking to sell. The transaction value including debt could reach approximately ¥1 trillion, which would make it one of the largest-ever acquisitions in Japan's real estate market if completed.
In addition to the 3 firms, BGO, a real estate investment company under Canadian insurance major Sun Life Financial, is also preparing a binding proposal and is reportedly expected to submit a final bid by the end of October. Fuji HD is expected to select a preferred negotiating party after reviewing the proposals and obtain shareholder approval.
Market participants continue to consider ways to maximize Fuji HD's corporate value, including introducing outside capital, while pointing out that such capital could form part of shareholder returns and corporate restructuring.