By Kosaku Narioka


Swedish investment company EQT plans to take Japanese education services provider Benesse Holdings private in a deal valued at more than $1 billion, by teaming up with the company's founding family.

EQT said Friday that one of its funds would spend 207.95 billion ($1.37 billion) to buy Benesse shares through an tender offer as part of management buyout. EQT said the fund wants to start the tender in early February.

Benesse offers education services and also operates nursing care homes in Japan.

EQT wants to accelerate Benesse's growth with its experience developing education and elderly care services worldwide.

The tender offer price is Y2,600 per share. Benesse shares closed Friday 6.5% higher at Y1,908.0.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Newswires

11-10-23 0314ET