Warburg Pincus has launched a tender offer to acquire all common shares and stock options of J.S.B. Co., a student housing and services platform in Japan, at an offer price of ¥9,000 ($56.11) per share and ¥1.735 million ($10,930) per stock option.
J.S.B.’s board of directors has expressed its support for the transaction, including the tender offer, and recommended that shareholders and stock option holders tender their shares and stock options. Warburg Pincus has entered into tender agreements with the company’s largest shareholders, the Oka Family, which owns 39.2 percent, and HIKARI TSUSHIN Group, which owns 19.27 percent. Together, they represent more than 58 percent of the company’s outstanding shares.
Following the transaction, the Oka Family is expected to remain a long-term shareholder through a planned reinvestment.
J.S.B. traces its origins to Kyoto Student
