China’s CITIC Capital To Acquire Control Of Japan’s Schott Moritex

Posted: December 10, 2014 in Free Trade, Technology and Energy

SOURCE: https://www.chinamoneynetwork.com/2014/12/09/citic-capital-to-acquire-control-of-japans-schott-moritex

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CITIC Capital To Acquire Control Of Japan’s Schott Moritex
By Staff Writer | December 9, 2014

Beijing-based CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited, says it has launched a tender offer to acquire a controlling stake in Schott Moritex Corporation, a specialty glasses and materials firm in Japan, according to a company announcement.

Transaction terms were not disclosed, but media reports say that CITIC Capital is likely to acquire a 71.6% stake for 1.8 billion Japanese Yen (US$15 million).

The US$2.6 billion-under-management CITIC Capital is planning to make the investment via its second Japan cross-border focused buyout fund, CITIC Capital Japan Partners II.

CITIC Capital has concluded an agreement on the tender offer with Schott AG, the parent company of Schott Nippon K.K., which is supported by Schott Moritex, says the statement.

Schott Moritex holds the second largest share globally of the machine vision lenses market, and the fourth in the machine vision LED lighting for image processing applications market. Both markets are expected to grow in the coming years.

The worldwide demand for machine vision products is expected to increase, and Schott Moritex plans to build up its domestic and overseas sales strategy, across Asia and especially in China.

“CITIC Capital will leverage its unique capabilities, such as an extensive network and track record throughout China and the rest of Asia…to support the further growth of Schott Moritex,” says Hironobu Nakano, head of CITIC Capital Partners Japan Limited.

Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management firm with over US$4.4 billion under management. It is owned by CITIC Group, China Investment Corporation, and Qatar Holding LLC.

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