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US Colony Capital to buy Japanese baseball stadium for $915m02/12/2003. Source: AltAssets. 
 US private equity firm Colony Capital is to buy a Japanese baseball stadium and hotel from retailer Daiei in a deal valued at around $915m. Colony Capital has beaten rivals Ripplewood Holdings and investment bank Lehman Brothers to seal the deal.
Burdened with a huge debt load after the bursting of Japan’s asset price bubble of the 1980s, Daiei, Japan’s third largest retail group, received a $4bn bail-out from creditors last year, according to a report by Reuters.
This acquisition represents Colony Capital’s largest investment in Japan and is the latest in a series of investments by foreign private equity firms as financially strapped firms such as Daiei’s struggle to strengthen their balance sheets.
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