Mitsui Acquires Stake in Image Entertainment

Mitsui & Co., the giant Japanese concern, has purchased a stake of just under 2% of Image Entertainment Inc., a Chatsworth distributor of laser discs.

Mitsui acquired the 234,432 restricted shares of Image common stock for $2 million in a private placement. In addition, Image and Mitsui subsidiary Mitsui Plastics have entered into a manufacturing agreement with laser disc maker Kuraray Co. Terms of the manufacturing agreement were not disclosed.

In February, Image sold a 3.5% stake to Mitsubishi Corp. of Japan for $4 million. Billionaire investor John W. Kluge also own a large stake in Image, and Walt Disney Co. has the right to purchase up to 10% of the company’s common stock.