Us private equity giant Bain Capital has revived plans to sell Japan's Oedo Hot Spring Hotel (Ooedo Onsen Monogatari), which operates about 38 hot spring hotels and resorts across Japan, according to people familiar with the matter.
Bain is seeking to raise at least $1 billion through the sale, said a person familiar with the matter, who spoke on condition of anonymity. In 2015, Boston-based Bain Capital bought the Japanese company for 50 billion yen ($449 million a month).
Bain Capital has approached several bidders in China, the person familiar with the matter said. However, the discussions are still at an early stage and the possibility that Bain Capital will cancel the sale cannot be ruled out. A representative of Bain Capital declined to comment.