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Carlyle to buy restaurant chain in $232 Mln MBO

Fri Nov 6, 2009 2:53am EST

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TOKYO, Nov 6 (Reuters) - The Carlyle Group [CYL.UL] said on Friday it would buy a Japanese restaurant chain operator in a 21 billion yen ($230 million) management buyout, its second deal in Japan in two weeks.

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The U.S. private equity firm said it aims to buy all the shares in Chimney Co (3362.T) for 2,260 yen per stock. Carlyle needs to obtain at least 75 percent of Chimney's outstanding shares for the buyout to succeed.

Carlyle will borrow 11.2 billion yen in loans from Bank of Tokyo-Mitsubishi JFJ, Mizuho Bank and Development Bank of Japan to finance the transaction.

Carlyle last week said it would buy Broadleaf Co, a Japanese maker of software for car maintenance facilities, in a 19.5 billion yen MBO. (Reporting by Junko Fujita)

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