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Business deals

Japan hotel operator looks to SoftBank fund as white knight

Unizo opposes takeover bid by travel agency H.I.S.

Business hotel operator Unizo is looking to SoftBank-backed fund Fortress Investment Group to stave off a hostile takeover bid from travel agency H.I.S.

TOKYO -- Japanese real estate company Unizo Holdings is in talks with SoftBank Group's Fortress Investment Group, seeking its help as a white knight to block a hostile takeover bid by travel agency H.I.S., according to people familiar with the matter.

Unizo is best known as a business hotel operator and owns 25 business hotels across Japan. H.I.S. also operates 33 hotels in Japan and abroad, and is aiming to expand.

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