Baring will own 80.27 per cent of the company after the transaction completes.
Alps, which already owns 40 percent in the car navigation systems maker, had made an offer to buy the Alpine shares it does not already own last year.
Matsuyama is expected to cultivate deals related to the divesture of assets by large Japanese firms.
Newly formed Japan Investment Corp has taken over the role of the Innovation Network Corporation of Japan (INCJ), one of the country’s state-backed funds that was set up to accelerate the growth of domestic companies.
The deal creates a global auto components giant with 15.2 billion euros in revenue.
Japan Fair Trade Commission (JFTC) opened the probe because Airbnb had forced certain clients not to list properties on a rival website, a move that would undermine competition
Elliott also owns a stake in Alpine Electronics, which is scheduled to hold an extra shareholders meeting by the end of this year to vote for the merger.
The assets on sale are part of the portfolio of apartment buildings Anbang bought from Blackstone for around $2.3 billion.
Avolon is owned by Bohai Capital, which is in turn controlled by HNA.
Asahi Kasei said the acquisition is aimed at strengthening its position in the car interior market.