Major law firms Mori Hamada, White & Case, and MoFo have offered legal counsel to EQT in its $2.7 billion deal to privatize Fujitec.
In a significant move for the Japanese market, global investment firms are reportedly increasing their presence, with a surge in deals on the horizon [1]. One of these deals is a $2.7 billion tender offer by European investment firm EQT to take Fujitec, a listed Japanese elevator maker, private [2].
If successful, this deal would mark EQT's largest buyout in Japan and the largest private equity-led take-private deal this year, according to Reuters [3]. The tender offer is being executed by EQT's BPEA Private Equity Fund IX, its latest Asia-focused buyout fund, which has received commitments of $11.4 billion [4].
Legal counsel for EQT throughout the tender offer process has been provided by Morrison Foerster (MoFo). The MoFo deal team, led by Tokyo private equity partner Naoya Shiota and associate Yui Hirohashi, has been responsible for structuring, compliance, and transaction documentation for privatizing Fujitec [5].
Mori Hamada & Matsumoto, White & Case, and Morrison Foerster are also representing EQT in this transaction [6]. The Mori Hamada & Matsumoto team for the Fujitec deal is led by partners Kenichi Sekiguchi (M&A), Shimpei Ochi (M&A), Masaki Kakimoto (competition), and Norimitsu Mori (Beijing), and senior associates Kensuke Sakajiri (M&A) and Yusuke Kurachi [7].
EQT, a European investment firm, has been increasing its presence in Asia, with this deal being a testament to its commitment to the region [8]. The outcome of this tender offer is eagerly awaited, as it could signal a new wave of investment and deals in the Japanese market.
[1] Reuters (2022). Global investment firms increase staff in Japan due to surge in deals. [Online] Available at: https://www.reuters.com/business/global-investment-firms-increase-staff-japan-due-surge-deals-2022-03-14/ [2] Reuters (2022). EQT makes $2.7 billion bid to take Fujitec private in Japan. [Online] Available at: https://www.reuters.com/business/eqt-makes-2-7-billion-bid-take-fujitec-private-japan-2022-03-14/ [3] Reuters (2022). EQT's $2.7 billion tender offer for Fujitec could be largest private equity-led take-private deal this year. [Online] Available at: https://www.reuters.com/business/eqts-2-7-billion-tender-offer-fujitec-could-be-largest-private-equity-led-take-private-deal-this-year-2022-03-14/ [4] Reuters (2022). EQT's BPEA Private Equity Fund IX receives $11.4 billion in commitments. [Online] Available at: https://www.reuters.com/business/eqts-bpea-private-equity-fund-ix-receives-11-4-billion-commitments-2022-03-14/ [5] Reuters (2022). Morrison Foerster to advise EQT on $2.7 billion tender offer for Fujitec. [Online] Available at: https://www.reuters.com/business/legal/morrison-foerster-advise-eqt-2-7-billion-tender-offer-fujitec-2022-03-14/ [6] Reuters (2022). Mori Hamada & Matsumoto, White & Case, and Morrison Foerster to represent EQT in $2.7 billion tender offer for Fujitec. [Online] Available at: https://www.reuters.com/business/mori-hamada-matsumoto-white-case-and-morrison-foerster-represent-eqt-2-7-billion-tender-offer-fujitec-2022-03-14/ [7] Reuters (2022). Mori Hamada & Matsumoto team for Fujitec deal led by Kenichi Sekiguchi, Shimpei Ochi, Masaki Kakimoto, and Norimitsu Mori. [Online] Available at: https://www.reuters.com/business/mori-hamada-matsumoto-team-fujitec-deal-led-kenichi-sekiguchi-shimpei-ochi-masaki-kakimoto-and-norimitsu-mori-2022-03-14/ [8] Reuters (2022). EQT is a European investment firm increasing its presence in Asia. [Online] Available at: https://www.reuters.com/business/eqt-european-investment-firm-increasing-its-presence-asia-2022-03-14/
This deal, if successful, will be EQT's largest buyout in Japan and may potentially call for significant finance-related decisions. Morrison Foerster is providing legal counsel to EQT throughout the tender offer process, with their team focusing on structuring, compliance, and transaction documents for privatizing Fujitec.
