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Bain-backed restaurant operator Skylark eyes Tokyo IPO

29 Jan 2014

Bain Capital-backed Skylark, a Japan-based restaurant chain, is looking to list on the Tokyo Stock Exchange this year, according to Bloomberg.

The private equity firm has tasked Nomura and Bank of America to pursue the IPO, though may look to select additional banks, the report said.

Bain Capital paid $2.1bn for Skylark in 2011, at the time Japan’s largest buy-out since the financial crisis.

The company operates over 3,600 stores in Japan including the Jonathan’s, Gusto and Bamiyan Chinese restaurant chains.

London-based private equity firm CVC previously held a stake in the restaurant following a $10.6bn Asia Pacific-focused buying spree in 2006, but lost it in 2009 after failing to repay a loan owed to Chuo Mitsui Capital.

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