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LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Bain to pay $1.3 billion for half Japan TV shopping channel: source
TOKYO (Reuters) - Private equity firm Bain Capital will buy a 50 percent stake in Jupiter Shop Channel, a television shopping company, for about 100 billion yen ($1.3 billion) in Japan's largest private equity transaction this year, according to a person with direct knowledge of the firm.
Bain said it would buy Jupiter Shop Channel, a market leader, from trading firm Sumitomo Corp (8053.T), but it did not disclose the price.
Bain is seen one of the most active foreign investment firms based in Tokyo. Last year it bought restaurant chain Skylark from an investment arm of Nomura Holdings (8604.T). Bain also owns the Domino's Pizza franchise in Japan.
Bain Capital has succeeded in buying a business from a Japanese firm at a time private equity firms are having a hard time securing new deals in Japan.
Jupiter Shop Channel offers items from jewelry and cosmetics to home appliances and food through an around-the-clock broadcast.
Sumitomo said in a separate statement it aims to expand its TV shopping business in China and other Asian emerging markets by tying up with Boston-based Bain.
(Reporting by Junko Fujita; Editing by Edwina Gibbs)
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