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Business

Bain Capital to buy Japan's No. 3 advertising agency

US private equity fund to take company private with $1.3 billion deal

TOKYO -- U.S. private equity specialist Bain Capital will acquire Japanese advertising agency Asatsu-DK, according to people familiar with the matter. The fund will launch a takeover bid soon and plans to take the company private.

Asatsu-DK is Japan's third-largest advertising agency, behind Dentsu and Hakuhodo. The offer price will likely be higher than the company's current stock price, with the takeover expected to cost Bain around 150 billion yen ($1.33 billion).

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