Longreach reaps 60% IRR on Sanyo Logistics sale
The Longreach Group has reaped an IRR of 60% and a money multiple of around 2.5x on its 24.2 billion yen ($300 million) sale of Japanese logistics company Sanyo Electric Logistics.
The Hong Kong-headquartered private equity firm sold the 95% stake it acquired in July 2010 to Sanyo Logistics' local competitor, Mitsui Soko. Market sources cited the appearance of a willing trade buyer...
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