Asian Venture Capital Journal, Japan eLetter July 2008
Article reports that Longreach Group has exited its investment in OCC Corp in a trade sale, noting that NEC Corp acquired a 75% stake in the company and Sumitomo Electric Industries took a 25% holding. Longreach had acquired OCC in 2006 from the Industrial Revitalization Corporation of Japan (IRCJ).
The article quotes an NEC spokesman as saying that OCC had sales of $165 million in the financial year ended March 2008 and is now in the black.
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Nikkei Financial Daily 1 November 2007
Article reports on CYBIRD Holdings' announcement that it will conduct an MBO jointly with the acquisition fund Longreach Group. The article highlights the stablishment of a third party committee to assess the appropriateness of the acquisition price, saying this is a first for a listed company and may represent an important precedent.
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Taipei Times 16 June 2007
Article reports on the announcement that EnTie Commercial Bank has agreed to sell as much as a 51 percent stake to the Longreach Group for NT$18.8 billion. The article includes comments from Longreach Chairman Mark Chiba, who said that Longreach seeks mid-size investment targets that enable the firm to take a controlling stake in a strategic partnership with existing management, rather than 100 percent control, and that EnTie matched this profile.
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Asian Venture Capital Journal August 2006
Article says that the Longreach Group has agreed to purchase the stake in Ocean Cable & Communications Corp. (OCC) held by the Industrial Revitalization Corporation of Japan. OCC produces both submarine and onshore communications cables and equipment. The article says OCC's market share in submarine cables is reportedly 80% in Asia and close to
100% in Japan.
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Reuters 24 April 2006
Article reports on the Longreach Group's announcement that it has raised $750 million from global investors, mostly for buyout deals in the technology and financial services sectors in Japan.
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The Wall Street Journal, Asia 28 July 2005
Article reports that the Longreach Group paid approximately 75 billion yen ($667.6 million) to acquire almost a quarter of McDonald's Holdings Co. (Japan) Ltd. The article notes that Longreach was to become one of the largest shareholders in the restaurant chain, and said McDonald's Japan welcomed the investment.
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The Financial Times 28 July 2005
Article reports that the Japanese family that founded McDonald's Japan has agreed to sell its stake in the company to the Longreach Group. The article quotes Longreach Chairman Mark Chiba as saying the acquisition had come at an "interesting juncture" in McDonald's Japan's history, and notes that the company has a market capitalization of approximately $2.7 billion and is 50% owned by McDonald's of the U.S.
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Reuters News 15 June 2004
The first closing of the Longreach Group's inaugural fund is covered in the article, which also looks at the Group's investment and operating strategy and the career history of Mark Chiba, Yaz Miyoshi and Masamichi Yoshizawa.
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