Goldman Sachs to launch bid for Simplex -sources

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TOKYO, Oct 5 (Reuters) Goldman Sachs plans to bid for all shares in Tokyo-based property investor Simplex Investment Advisors Inc, sources familiar with the deal told Reuters.

Nikko Cordial, Simplex's top shareholder, is expected to agree to Goldman's offer, the sources said.

Shares of Simplex extended their gains to hit 150,000 yen, up by its daily limit of 20,000 yen or 15.4 percent, immediately after the news. The Tokyo Stock Exchange then suspended trade in the issue.

An announcement is expected to be made later in the day.

Goldman owned 0.42 percent of Simplex stock as of March 31.

On Thursday, sources told Reuters a major shareholder in Simplex, Yoshihiro Mikami, would put his 29 percent stake up for sale.

Simplex has three main business segments: asset management of real estate funds in Japan, development and marketing of property.

REUTERS KR PM1424

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