Nagashima Ohno & Tsunematsu and Mori Hamada & Matsumoto have advised on a proposed USD1.7 billion buyout of Japanese real estate company Leopalace21.
Nikkei Asia reported that Japanese holding company Hikari Tsushin will launch a tender offer for Leopalace21 shares, with the offer period running until the end of October.
The proposed buyout will be completed through a special-purpose company owned by Hikari Tsushin, private equity firm MBK Partners and an affiliate of financial services group NEC Capital Solutions.
The consortium has committed up to JPY267.6 billion (USD1.7 billion) for the deal. Hikari Tsushin will own 34% of the acquisition vehicle, while MBK Partners and NEC Capital Solutions will each hold 33%.
Nagashima Ohno’s team included partners Miyuki Ishiguro and Kyohei Mizukoshi.
Mori Hamada & Matsumoto advised Hikari Tsushin and the buyer on matters relating to the acquisition and the Financial Instruments and Exchange Act. Partners Satoshi Kawai, Shuhei Kubota and Kensuke Sakajiri led the team.
