TOKYO - GOLDMAN Sachs will soon launch a tender offer to take over theme park operator Universal Studios Japan Co. (USJ), a source familiar with the plan said on Thursday.

A Goldman subsidiary, Crane Holdings, owns 41 per cent of USJ and aims, along with two other funds, to buy the remainder from a state-backed lender and the city government of Osaka, where the theme park is based, the source said.

Crane Holdings 'is expected to acquire all the shares of the operator and is likely to announce the tender offer bid very soon,' the person told AFP.

The source spoke on condition of anonymity as the announcement has not been made public.

The deal could amount to more than 60 billion yen (S$949 million), the Japanese Nikkei business daily said, citing unnamed sources.

Once the takeover is completed, Crane Holdings may delist USJ and strengthen its finances before making an initial public offering, it added.

Goldman was less badly hit by the financial crisis than many of its rivals such as Citigroup and Merrill Lynch, but it has still suffered heavy losses and last year received public funds under Washington's Wall Street bailout. -- AFP