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Market Chatter: South Korea's MBK Partners to Acquire Sharingtechnology; Shares Jump 5%

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MBK Partners plans to acquire Sharingtechnology (TYO:3989) in a deal expected to be valued at 37 billion yen, and plans to launch a tender offer Thursday to purchase all shares of the target, Nikkei Asia reported Thursday, citing an announcement from the South Korea-based private equity firm.

The tender offer will run through Oct. 27. When concluded, the Japanese home services firm will be delisted from the Tokyo Stock Exchange's Growth market, the report said.

MBK Partners is mulling over combining Sharingtechnology's platform with housecleaning and other services operated by its nursing care business Hitowa, it said.

MBK Partners did not immediately respond to' request for comment.

Shares of Sharingtechnology rose more than 5% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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