Tokyo, March 27 (Jiji Press)–Atra, an investment firm linked to Japanese activist investor Yoshiaki Murakami, has proposed together with others to acquire Fuji Media Holdings Inc.’s real estate business for 350 billion yen, it was learned Friday. Fuji Media is currently considering introducing outside capital for its real estate operations, including the outright sale of the business. After Fuji Media announced plans to spin off its real estate business last month, Murakami and others sold most of their stakes in the media group under a share buyback program. It was later found, however, that Atra, which did not join the share buyback program, had newly acquired a 1.29 pct stake in Fuji Media. The media group said Wednesday that it had raised concerns about the stake acquired by Atra and called on Murakami and others to sell their shareholdings in Fuji Media. In a written response released Thursday, the activist investor’s team said Fuji Media President Kenji Shimizu had admitted that the company could not prevent firms other than participants in the share buyback program from buying shares. END [Copyright The Jiji Press, Ltd.]
Murakami-Linked Firm Aims to Buy Fuji Media’s Real Estate Biz
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