Ripplewood sells Columbia Music stake for $27.8 million
Ripplewood Holdings will sell a 25.5% stake in Columbia Music Entertainment Co., formerly known as Nippon Columbia Co., a Japanese music company for ￥2.5 billion ($27.8 million).
The buyout firm acquired Columbia, from Hitachi Co., the Japanese consumer electronics giant, for ￥10.9 billion ($121 million) in 2001. The buyer who will take up the partial stake from Ripplewood is Faith Inc., a local company involved in developing and licensing sounds for mobile phones, and tone generators for computers and game consoles. Faith said it aims to take a further 5.9% stake in Columbia from RHJ International, the Brussels-listed arm of the US investment firm. The sales are part of an effort to shed industrial investments and become a "focused financial services firm," RHJ said in a statement.
More on Exits
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.