Simpson Thacher & Bartlett, Anderson Mori & Tomotsune and TMI Associates are advising on US global alternative asset manager Blackstone’s USD1.7 billion acquisition of Tokyo-listed digital comics provider Infocom Corporation.
The billion-dollar takeover is, to Blackstone, the largest private equity deal announced or closed in Japan this year to date. The transaction began on 18 June this year when Infocom Corp that its board of directors had approved a tender offer by BXJC II Holding, the tender offeror established to acquire and hold shares of the target company, as well as to control and manage its business activities.
Simpson Thacher and Anderson Mori have been mandated as legal advisers to Blackstone. The Simpson Thacher team includes New York partner Anthony King and London partner Shahpur Kabraji. The Anderson Mori team has been led by partner Kazuaki Tobioka.
Infocom Corp, which is listed in the prime section of the Tokyo Stock Exchange, has hired TMI Associates as its legal counsel. The Tokyo-based law firm has also provided legal advice to a special committee set up by the target company on measures to ensure the transaction’s fairness and to avoid conflicts of interest, says Infocom Corp. The TMI Associates team has been led by partner Tatsuhiro Takahara and includes partner Kensei Ikeda.
Japanese materials maker Teijin, which is the current parent company of Infocom Corp holding a 57.65% stake, has not participated in the tender offer that commenced on 18 June. Instead, after the completion of the tender offer, the target company will acquire all of Teijin’s shares via a stock repurchase exercise.
