HONG KONG: Hong Kong hedge fund Oasis Management Co has a stake in Soft99 Corp as a battle over ownership of the Japanese car care products manufacturer between management and some shareholders continues.
Management buyout (MBO) target Soft99 has said it opposes a competing tender offer from Effissimo Capital Management.
Effissimo said the MBO led by Soft99’s president Hideaki Tanaka priced the company too low.
While the source hasn’t revealed how much the stake is, the lack of a large shareholder report that needs to be filed when holdings reach at least 5% suggests it’s less than that. — Bloomberg
