Goldman Sachs to become top shareholder of Universal Studios Japan: reports

0 Comments | AFP, June, 2005

TOKYO (AFP) — US investment bank Goldman Sachs will become the top shareholder of troubled Hollywood theme park Universal Studios Japan (USJ) by buying its new shares worth 20 billion yen (182 million dollars), reports said.

With the help of Goldman Sachs, the park aims to improve its money-losing operations as it struggles to attract visitors since its opening in March 2001, the Asahi Shimbun daily and public broadcaster NHK said.

The US banking giant is likely to acquire a 30-percent stake in USJ, exceeding a 25-percent stake owned by the western Japanese hub city of Osaka, the current top shareholder.

USJ declined to confirm the reports, saying nothing has been decided at this moment. The Asahi said the stock deal with Goldman Sachs would be approved at a...