6 Asian Legal Business | September 2024 $4 bln KKR’s management buyout of Fuji Soft Deal: M&A Firms: Mori Hamada & Matsumoto; Nishimura & Asahi; Simpson Thacher & Bartlett Jurisdictions: Japan, U.S. $2.4 bln Japan Tobacco’s acquisition of Vector Group Deal: M&A Firms: Freshfields Bruckhaus Deringer; Sullivan & Cromwell Jurisdictions: Japan, U.S. JT Group has agreed to buy cigarette-maker Vector Group for about $2.4 billion to expand in the U.S. The deal will boost Japan Tobacco’s U.S. market share from 2.3 percent to about 8 percent and give it ownership of two of the top 10 U.S. cigarette brands. Japan is experiencing a huge outbound M&A boom as the country’s corporate giants come under pressure to boost capital efficiency, and the central bank moves towards ditching policies that depressed the currency. The Briefs $1.3 bln Formation of SeaTown Holdings’ second private credit fund Deal: Funds Firm: Clifford Chance Jurisdiction: Singapore DEALS $1.24 bln Itochu Corp’s offer to acquire Descente Deal: M&A Firms: Anderson Mori & Tomotsune; Mori Hamada & Matsumoto; Nagashima Ohno & Tsun-ematsu Jurisdiction: Japan $1.2 bln Ambuja Cement’s acquisition of Penna Cement Industries Deal: M&A Firms: Cyril Amarchand Mangaldas; Tatva Legal Hyderabad Jurisdiction: India $1.1 bln EQT AB’s offer to acquire PropertyGuru Deal: M&A Firms: Freshfields Bruckhaus Deringer; Latham & Watkins; Ropes & Gray Jurisdictions: Singapore, Sweden, U.S. $1.08 bln Whitehaven Coal’s sale of stake in Black-water mine to Nippon Steel, JFE Steel Deal: M&A Firms: Allens; Clayton Utz; Nishimura & Asahi Jurisdictions: Australia, Japan
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