Bain Bags $2B Stake In Japanese TV Channel From Sumitomo

Law360, New York (June 22, 2012, 1:42 PM ET) -- Sumitomo Corp. announced Friday that it has sold a 50 percent stake in a popular Japanese shopping channel, reportedly worth up to $2 billion, to a unit of private equity firm Bain Capital Partners LLC in order to help expand the channel's presence in Asian markets.

While the firms declined to disclose financial terms, the deal for Jupiter Shop Channel Co. Ltd. is reportedly around the $1.24 billion to $2 billion benchmark, according to media reports. Representatives for Bain and Sumitomo did not immediately respond to...
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