Latham & Watkins, Anderson Mori & Tomotsune and TMI Associates have advised on a Singapore-based global alternative investment firm’s JPY106 billion (USD714 million) takeover bid for Japanese real estate developer Samty Holdings, the target company announced on 11 October.
Hillhouse, together with its real estate arm Rava Partners and other affiliated entities, has started its acquisition of Samty, which is listed on the Tokyo Stock Exchange’s prime market, via a tender offer for more than 32 million shares at JPY3,300 apiece taking place from 15 October to 26 November this year.
Separately, the global alternative investment firm has entered into a non-tendering co-operation agreement with Samty’s largest shareholder Daiwa Securities Group and Daiwa PI Partners, which own 37.81% interest in total. As a result, Daiwa Securities Group will continue to be a shareholder.
Hillhouse has appointed Latham & Watkins and Anderson Mori as legal advisers, while Samty has retained TMI Associates as its legal counsel. Singapore partner Amy Beckingham together with Tokyo partners Hiroaki Takagi and Yohei Nakagawa led the Latham & Watkins team.
Raku Raku, a partner at Anderson Mori who is also serving as the representative of its Singapore office, led the firm’s team advising Hillhouse.
On the target’s side, partner Takushi Saito from TMI Associates was the lead lawyer advising Samty on the sale.
Samty has been engaging in real estate asset management, development and operations across Japan since 1982.
