Troubled supermarket chain operator Daiei Inc. said Tuesday it will sell its secure-transportation subsidiary to the Carlyle Group, a major U.S. private equity investment company, for roughly 3.5 billion yen in February to reduce group interest-bearing debts.
The acquisition of A.S.S. will mark the first major investment in Japan for the Carlyle Group. A.S.S. provides secure transportation of cash receipts for Daiei group restaurants and handles building management.
Daiei will post about 2.6 billion yen in proceeds on a consolidated basis from the sale of 10,000 A.S.S. Inc. shares held by Daiei and another subsidiary, a Daiei spokesman said.