TOKYO Jan 15 Japanese private equity firm
Advantage Partners has agreed to sell its stake in coffee shop
chain operator Komeda Co to MBK Partners for an undisclosed
amount, its second asset sale in a month.
Advantage Partners had aimed to sell the company for more
than 40 billion yen ($448 million), or the equivalent of over 10
times Komeda's earnings before interest, tax, depreciation and
amortisation (EBITDA), sources have told Reuters previously.
Both Advantage Partners and MBK declined to comment on the
Advantage Partners bought an 80 percent stake in Komeda,
which operates 483 shops, in 2008.
The buyout firm, which in the process of raising a new fund
called IV-S, last month sold its stake in MEI Conlux Holdings
and its Japanese affiliate for about $820 million to U.S. firm
Crane Co. [ID: nL1E8NL0CP]