Latham & Watkins, Anderson Mori & Tomotsune, and TMI Associates are managing a Singapore-based global alternative investment firm’s 106 billion yen (US$714 million) acquisition of Japanese real estate developer Samty Holdings. Advised on a tender offer (target company announced on October 11th).
Hillhouse, together with its real estate arm Lava Partners and other affiliates, has initiated the acquisition of Samty, which is listed on the Prime Market of the Tokyo Stock Exchange, with a tender offer for more than 32 million shares at 3,300 yen per share. . This year it will be held from October 15th to November 26th.
Separately, the global alternative investment firm signed a non-bid cooperation agreement with Samty’s largest shareholder, Daiwa Securities Group Inc., and Daiwa PI Partners, which holds a total interest of 37.81%. As a result, Daiwa Securities Group will continue to be a shareholder.
Hillhouse appointed Latham & Watkins and Anderson Mori as its legal advisors, and Samty retained TMI Associates as its legal advisors. Singapore partner Amy Beckingham led the Latham & Watkins team, along with Tokyo partners Hiroaki Takagi and Yohei Nakagawa.
Rakuraku, a partner and head of Anderson Mori’s Singapore office, led the firm’s team advising Hillhouse.
On the target side, Takashi Saito, a partner at TMI Associates, served as lead attorney and advised Samty on the sale.
Since 1982, Samty has been managing, developing, and operating real estate properties throughout Japan.
