Simpson Thacher is representing LOGISTEED, Ltd. (“LOGISTEED”), a portfolio company of KKR, in connection with the tender offer by its subsidiary (the “Offeror”) and subsequent related transactions to acquire Alps Logistics Co., Ltd. (“Alps Logistics”). Alps Logistics provides logistics services on a global scale that include the transportation, storage and forwarding of electronic components cargo for domestic and foreign customers.
In connection with the tender offer, the Offeror has entered into an agreement with Alps Alpine Co., Ltd. (“Alps Alpine”) whereby, following a share consolidation after the successful completion of the tender offer, Alps Logistics will acquire the 48.74% stake in Alps Logistics currently held by Alps Alpine and its affiliate in a share buyback. Thereafter, Alps Alpine will reinvest into the Offeror, resulting in a 20% stake in the Offeror being held by Alps Alpine and the remaining 80% stake being held by LOGISTEED. The planned acquisition contemplates a tender offer price of JPY 5,774 per share and total consideration for the share buyback of approximately JPY 70.7 billion. The commencement of the tender offer is subject to the fulfillment of certain regulatory approvals and other conditions.
The Simpson Thacher team includes Noritaka Kumamoto, Jonathan Stradling, Daisuke Ueta and Yuji Yagi (M&A); Makiko Harunari and Atsushi Usui (Credit); and Étienne Renaudeau, Pauline Patat, Henry Llewellyn and Thomas Lopez (Antitrust).