Goldman Sachs Group Inc has offered to buy a stake in top Japanese consumer finance firm Takefuji Corp for $2.74 billion, domestic media said on Friday, heating up competition among foreign investors to enter a $97 billion industry.
Goldman's reported interest in Takefuji, which has a market value of more than 1 trillion yen ($9.12 billion), comes as a direct challenge to US private equity firm Newbridge Capital, selected as the winning bidder for a one-third stake last month by the family of founder Yasuo Takei.
Business daily Nihon Keizai said on Friday that US investment bank Goldman would acquire Takefuji's top shareholder, Marutake Sangyo Co, which has a 21 percent stake in Takefuji, and other firms owned by Takei and his family.
The paper said the purchase would reduce the founding family's ownership of Takefuji to under 30 percent from nearly 60 percent.
US investment bank Merrill Lynch is advising the family.
Takefuji's shares jumped on the report, rising 1.49 percent to 7,510 yen while the benchmark Nikkei average was down 0.23 percent.
Goldman Sachs, Takefuji and Newbridge Capital declined to comment. Merrill Lynch was not immediately available for comment.
Analysts were sceptical about Goldman purchasing a long-term stake in an industry that has at times struggled to shake off a shady image due to allegations of violent collection techniques several years ago.
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