Nomura Principal Finance and CVC Asia Pacific have launched Japan's largest buyout to date after making an offer for Skylark, a restaurant chain listed on the Tokyo Stock Exchange. The offer values the company at about $3bn (€2.4bn).

Management led by Kiwamu Yokokawa, the founder and chief executive, will invest in the 4,440-strong chain alongside Nomura, a Japanese investment bank, which is taking a 63% stake, and CVC Asia Pacific, which is taking a 37% stake.