The Carlyle Group-backed Studio Cruise to acquire the remaining 99.66% stake in AOI TYO Holdings for $198m.

The Carlyle Group-backed Studio Cruise offered to acquire the remaining 99.66% stake in AOI TYO Holdings, an advertising agency, for $198m. The offer was conditioned upon at least 65.5% interest in AOI TYO Holdings ordinary shares being tendered. Studio Cruise received irrevocable undertakings of 10.05% stake from Fumiko Hara, Saori Hara, Chinami Hara, Cosmo Channel, Hiroaki Yoshida and Yoichi Matsumoto. Upon completion, AOI TYO Holdings would to be delisted from Tokyo Stock Exchange.