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Non-Tech : Goldman Sachs Group Inc. NYSE:GS

GS 789.37

-0.1%

Oct 31 9:30 AM EDT

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From: Don Green	3/21/2009 9:32:28 AM
	of 411

Goldman Sachs bids for Universal Studios Japan Thu Mar 19, 9:07 am ET TOKYO (AFP) – Goldman Sachs said Thursday it would launch a tender offer for theme park operator Universal Studios Japan Co. (USJ) worth up to 111.2 billion yen (1.2 billion dollars) Japanese theme park operators are facing bleak prospects because of the weak economy and an ageing and shrinking population. USJ said it had agreed to the offer from a Goldman fund which already owns 41 percent of the operator of the Osaka-based theme park. The offer is part of a management buyout and USJ president Glenn Gumpel will take a stake in the group and continue to run the business. Goldman Sachs is reportedly planning to take the company private and try to revive its fortunes with a view to relisting it in the future. Goldman was less badly hit by the financial crisis than rivals such as Citigroup and Merrill Lynch, but it has still suffered heavy losses and last year received public funds under Washington's Wall Street bailout. In December the investment bank agreed to sell its 29 percent stake in troubled electronics maker Sanyo Electric Co. rival to Panasonic Corp.

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