17th Sep 2021 16:36
Nippon Active Value Fund PLC - Japan-focused investment firm - Confirms that deal with Japanese dyeing, textile and control equipment firm Sakai Ovex has led to a management buyout of Sakai.
Buyout leads to doubled gain on the value of investment.
"We are delighted with the positive outcome of our nearly year-long engagement with the management of Sakai Ovex. The untapped value of the business was something we identified immediately and the valuation of the MBO justifies our approach to engaging Sakai Ovex's management and proposing a restructuring," said Paul Davis, chair of investment advisor Rising Sun Management.
Current stock price: 133.54 pence
Year-to-date change: up 26%
By Dayo Laniyan; [email protected]
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