(Bloomberg) -- FountainVest Partners and Unison Capital are nearing a purchase of Japanese jeweler Tasaki & Co., people familiar with the matter said.

The two Asian private equity firms have emerged as the likeliest buyers after outbidding rivals, according to the people, who asked not to be identified discussing a private matter. Kobe-based Tasaki could have an equity value of more than $600 million in a potential transaction, the people said.

FountainVest and Unison are finalizing details of a joint transaction with Tasaki’s North Asia-focused buyout owner MBK Partners, the people said. Deliberations are ongoing and no final decisions have been made, they said.

FountainVest and Unison didn’t respond to requests for comment. A representative for MBK declined to comment, as did Tasaki.

Established in 1954, Tasaki operates more than 100 stores in Japan and elsewhere in Asia, as well as in Europe, according to MBK’s website. MBK last took Tasaki private in 2017 in a ¥25.6 billion ($165 million) deal. 

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