November 21, 2017 / 10:08 AM / a year ago

Bain Capital to sell its 15 percent stake in Skylark

Logo of the Bain Capital is screened at a news conference in Tokyo, Japan September 28, 2017. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Skylark Co (3197.T) on Tuesday said Bain Capital would sell its 15-percent stake in the Japanese restaurant chain in the market, ending a six-year relationship between the firms.

The U.S. private equity firm bought Skylark in 2011 from a fund run by Nomura Holdings Inc (8604.T) in one of the largest buyouts in Japan. Bain sold part of its stake in Skylark’s IPO in 2014 and has been gradually reducing its holdings.

The move comes as Skylark has moved to a stage where it can seek growth strategy on its own, it said in a statement.

Reporting by Junko Fujita; Editing by Himani Sarkar

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