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Business deals

Japan's H.I.S. sells Huis Ten Bosch theme park to Hong Kong fund PAG

Expert who led turnaround at Universal Studios Japan tapped as new operator

The sale of Huis Ten Bosch comes as H.I.S. suffers from a protracted downturn in overseas travel. (Photo by Toshiya Wakasugi)

TOKYO -- Japanese travel agency H.I.S. said Tuesday that it will sell Huis Ten Bosch, a Dutch-themed amusement park in Nagasaki prefecture, to Hong Kong-based investment fund PAG.

H.I.S. will transfer its 66.7% stake in the park to PAG HTB Holdings, a special-purpose company, in exchange for 66.6 billion yen ($480 million) at the end of September. It expects to book an extraordinary profit of 64.6 billion yen from the deal for its fiscal year ending October.

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