Japan Wind Development to Be Acquired by Bain for Premium

(Bloomberg) — A fund affiliated with Bain Capital Partners

LLC plans to acquire Japan Wind Development Co. through a tender

offer.

JWD Holdings K.K., set up in February and equally owned by

the fund and Japan Wind President Masayuki Tsukawaki, will pay

580 yen a share, Japan Wind said in a statement Monday. The

price is 25 percent higher than Friday’s close of 463 yen.

“Bain Capital will work together with the current

management led by Mr. Tsukawaki,” Bain said in a statement.

“We will support further development of wind power generation

business through providing support for funding and strengthening

management infrastructure for stable growth.”

The purchase price is 9.7 billion yen ($81 million) but

could go to as much as 10.9 billion yen should shares from some

out-of-money warrants be exercised, according to statements from

the companies.

The tender offer starts March 24 and runs to May 8.

To contact the reporter on this story:

Chisaki Watanabe in Tokyo at

cwatanabe5@bloomberg.net

To contact the editors responsible for this story:

Reed Landberg at

landberg@bloomberg.net

Iain Wilson, Peter Langan

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