Wednesday April 9, 03:32 AM
Japan's Advantage Partners wins bid for GST AutoLeather
TOKYO (Thomson Financial) - Japanese private-equity fund Advantage Partners LLP. said it won the bid for U.S. automotive
leather supplier GST AutoLeather Inc.
The purchase of GST marked Advantage Partners' first solo buyout
outside of Japan. The fund
recently opened its first overseas office in Hong Kong.
Advantage bought GST from SILLC Holdings LLC. for an undisclosed sum, according to a company statement released on Tuesday. A spokesperson for the Japanese fund declined to
disclose the amount although the Wall Street Journal reported that the deal was valued at $300
million.
GST supplies leather upholstery to car makers such as Toyota Motor Corp (Frankfurt: 853510 - news) . and Honda Motor Co (Munich: 853226 - news) .
($1 = 102.60 yen)
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