Private equity firms Advantage Partners, Bain Capital and Japanese financial company Orix Corp have advanced to the final round of bidding for MBK Partners planned sale of software developer Yayoi, in a deal worth about $800 million, sources said.If successful, MBK's exit from Yayoi would be Japan's third-largest private equity deal this year after Bain Capital's $2 billion purchase of restaurant chain Skylark and Carlyle Group's purchase of ballbearing maker Tsubaki Nakashima in March for about 66 billion yen.Final offers for Yayoi, which generates steady cash flow from software to manage accounting systems, are due on Nov. 21, five sources said, who declined to be identified as the sale process is private.Yayoi has an earnings before interest, tax, depreciation and amortisation (EBITDA) of around 5 billion yen ($65 million), and a bid of 12.5 times would take the value north of $800 million.
ORIX CORPORATION is a Japan-based financial. The Corporate Financial Service segment provides lease, financial products and conducts environment-related business. Shares of IX remained unchanged at $42.65. In the past year, the shares have traded as low as $36.19 and as high as $57.16. On average, 31960 shares of IX exchange hands on a given day and today's volume is recorded at 0.
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