Comcast NBCUniversal To Buy 51% Stake In Universal Studios Japan For $1.5 Bln

(RTTNews) - Comcast NBCUniversal, a division of cable television giant Comcast Corp. (CMCSA, CMCSK), Monday said it agreed to buy 51 percent wnership of Universal Studios Japan for 183 billion Japanese yen or $1.5 billion.

The acquisition of the majority ownership of the theme park destination will be in a recapitalization transaction, partnering with the current owners including Goldman Sachs Group Inc. (GS), USJ's CEO Glenn Gumpel, Asian private-equity firm MBK Partners, and U.S. hedge fund Owl Creek Asset Management.

Universal Studios, which is located in Osaka, was opened in 2001 and features classic Universal attractions and shows specifically designed for the Japanese market.

Steve Burke, CEO of NBCUniversal, said the company plans to introduce significant attractions at Universal Studios over the next five years.

Brian Roberts, Chairman and CEO of Comcast, said, "We are excited to expand our global footprint with this wonderful theme park in Osaka and are excited by the opportunities that lie ahead in Japan and all of Asia. This investment represents a huge opportunity and commitment to creating value for our shareholders and continuing to grow internationally."

As per reports, USJ Co., the theme park's holding company, had initially been looking to list on the Tokyo Stock Exchange this month but has now pushed IPO plans to next year due to its talks with Comcast.

On Nasdaq, Comcast shares settled at $56.54 on Friday, down 0.49 percent.