According to a report from Bloomberg, Orix Corp, a Japanese financial services group, is likely to divest its software business Yayoi Co for more than $1.75 billion (200 billion yen).

Blackstone Inc  and Bain Capital are among its bidders, said the Japanese company while adding that the second round of bidding is slated to take place in late November.

Orix aims to complete the sale by March 31, 2022.

Neither Orix nor Bain were immediately available for comment.

Blackstone and KKR declined comment.

Orix acquired Yayoi for more than 80 billion yen in 2014.

($1 = 114 yen)

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Tags: bidders, bidding, Blackstone, complete the sale, divest, divestiture, financial services group, Japan, Japanse, KKR, Orix Corp, second round, software business, Yayoi Co