Saturday, May 23, 2009

Goldman, Others to Buy 99% of Universal Studios Japan

By Gregory Turk

May 22 (Bloomberg) -- Investors led by Goldman Sachs Group Inc. will buy 99.31 percent of USJ Co., the operator of the Universal Studios Japan theme park in Osaka, for 1.09 billion yen ($1.2 billion) after completing a tender offer.

The investment group will buy 2.15 million shares and 39,033 warrants of USJ Co. on the open market on May 28, the investors and USJ said in separate statements today.

Osaka’s municipal government earlier this week said it would sell its 9 percent stake in Universal Studios Japan to the Goldman-led group for 10 billion yen.

New York-based Goldman, the world’s most-profitable securities firm until it converted to a bank holding company, invested 20 billion yen in Universal Studios Japan in 2005.

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