(Bloomberg) Rakuten Group Inc. priced a $2 billion junk bond after boosting the size of the offering by 60% due to strong demand from investors.Most Read from BloombergKim Jong Un Faces Annihilation in Most Korea War ScenariosApple Explores Home Robotics as Potential ‘Next Big Thing’ After Car FizzlesTSMC Facilities to Resume Production Overnight After QuakeA Million Simulations, One Verdict for US Economy: Debt Danger AheadTrump Media’s Business Doesn’t MatterThe Japanese conglomerate priced
Rakuten Boosts Junk Bond Sale to $2 Billion With Juicy Yield
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Rakuten boosts junk bond sale to US$2 billion with juicy yield
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Japan to probe Tencent s investment in Rakuten
The Japanese government plans to check whether a Chinese tech group s investment in Tokyo-based Rakuten poses a national security threat.
A subsidiary of Tencent Holdings took a 3.65 percent stake in Rakuten Group in March for more than 600 million dollars.
Japan s foreign exchange and trade law requires overseas investors to notify the government before acquiring 1 percent or more of shares in a company that s key to national security.
But advance notice isn t necessary when foreign investors do not gain access to proprietary technology, or do not have seats on the board. They need to notify the Japanese government after acquiring the stake.
Founded in 1963, Tokyo-based Seiyu operates more than 300 stores throughout Japan.
Global investment firm KKR and Rakuten DX Solution, a subsidiary of internet services company Rakuten, have completed their previously reported share purchases in Japanese retailer Seiyu GK from Walmart. As a result of the transactions, KKR owns a 65% stake in Seiyu, and Rakuten DX Solution owns a 20% stake in the company. Walmart, meanwhile, retains a 15% stake in Seiyu. New York-based KKR is making its investment from its Asia private equity fund.
Under the new ownership structure, Seiyu can avail itself of the combined retail expertise and innovation of KKR, Rakuten and Walmart, as well as ramp up its digital transformation to become Japan’s top omnichannel retailer.