Global investment firms Blackstone, Bain Capital and Warburg Pincus are reportedly preparing final bids for Sankei Building, Fuji Media Holdings' real estate unit. Final bids are expected by the end of October.
The deal is expected to be valued at around ¥1 trillion ($6.3 billion), including debt. If completed at that valuation, it would rank among the largest real estate transactions in Japan's history and highlight strong foreign investor interest in the country's property market.
Sankei Building has a diverse portfolio that includes office buildings and hotels. The sale follows pressure from activist shareholders for Fuji Media to divest non-core assets and improve corporate value.