The operator of Japan’s Spa Resort Hawaiians said Monday that it has agreed to a tender offer from U.S. investment fund Fortress Investment Group.
Fortress will launch the tender offer on Tuesday to acquire shares in Joban Kosan, which operates the Hawaii-themed hot springs theme park in Iwaki, Fukushima Prefecture, for ¥1,650 apiece.
The acquisition is expected to cost Fortress up to around ¥14 billion. Joban Kosan shares closed at ¥1,540 with a maximum allowable single-day gain of ¥300 on the Tokyo Stock Exchange Monday.
