Goldman 'joins Takefuji bidding'
TOKYO, Japan -- U.S. investment bank Goldman Sachs has made a $2.74 billion offer to buy part of the stake in consumer financing firm Takefuji Corp. held by former chairman Yasuo Takei and his family businesses, according to a Japanese media report Friday.
U.S. investment fund Newbridge Capital has already made a conditional bid for a stake in Takefuji.
The Nihon Keizai business daily said Goldman Sachs proposed buying Marutake Sangyo Co., Takefuji's top shareholder, and other firms owned by Takei and his family, for about 300 billion yen.
The deal would take the founding family's ownership to less than 30 percent from about 58 percent now.
Shares in Takefuji are 2 percent higher to 7550 yen at midday Friday, compared with a decline of 0.65 percent for the Nikkei 225 average.
The Nihon Keizai report said Goldman's bid provided the Takei family with an alternative in its effort to reduce its interest in the company, which has been hit by the former chairman's wiretapping scandal.
The family agreed last month to sell a 33.3 percent stake to Newbridge Capital.
But Newbridge told the family to give up the voting rights that come with their remaining interest, and Takei, apparently wishing to retain some clout, balked at inking the deal, the newspaper said.
It said Goldman apparently has made no requests regarding the family's voting rights.
