EQT’s BPEA Private Equity Fund IX said that intends to make a $2.7 billion tender offer to privatise Fujitec, a leading Japanese manufacturer of elevators and escalators.

This marks the largest sponsor-led take-private deal in Japan year-to-date and EQT’s largest buyout in Japan since establishing its Tokyo office in 2006. If successful it will also continue a number of recent large deals in Japan including EQT’s recnet $1.1 billion exit of Japan’s Pioneer Corporation to Taiwan’s CarUX as M&A activity rebounds in the region. 

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