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REFILE-UPDATE 1-Shareholder seeks to sell Simplex stake-sources

Thu Oct 4, 2007 8:19pm EDT
 
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By Alison Tudor and Eriko Amaha

TOKYO, Oct 4 (Reuters) - A major shareholder in Tokyo-based property investor Simplex Investment Advisors Inc 8942.T, Yoshihiro Mikami, has put his 29 percent stake up for sale, sources familiar with the deal said.

Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) and fund management firm Aetos Capital were said to be interested in the stake, they said.

The chief executive of Aetos Japan, Scott Kelley, and a spokeswoman for Goldman declined to comment.

Attempts to reach Mikami, who is travelling outside Japan, were unsuccessful. A Simplex Investment spokesman said he was not in a position to comment on the actions of a shareholder.

A deal may still falter, the sources said, because of disagreements over valuation of the stake in Simplex, which has a market value of $808 million. Mikami's stake is worth about $240 million at the current market price.

As of March 2007 the firm had 622 billion yen ($5.3 billion) under management.  Continued...

 

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