07:35 AM EDT, 05/31/2024 (MT Newswires) -- (Adds detail)

Blackstone (BX) has agreed to acquire a 55.1% stake in Japanese e-comics provider Infocom Corp. from Teijin Ltd. for about 260 billion Yen ($1.66 billion), Bloomberg reported on Friday, citing sources familiar with the matter.

The company may consider acquiring all of Infocom's shares through a takeover bid and share transfer in the future, according to the report.

Blackstone outbid rivals for the acquisition, Bloomberg reported, with Sony Music Entertainment, Japanese fund Integral Corp. and KKR & Co. also interested in a deal.

Spokespeople for Teijin and Blackstone declined to comment, Bloomberg reported.

Blackstone did not immediately respond to MT Newswires' request for comment.

(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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