Simpson Thacher Represents Shinsei Bank in $5.4 Billion Acquisition of General Electric's Japanese Consumer Finance Business
07.14.08
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The Firm is representing Shinsei Bank, Ltd. in its acquisition from General Electric Co. of GE Consumer Finance Co. for 580 billion yen (approximately $5.4 billion) in cash consideration. The signing of an acquisition agreement was announced in Tokyo on July 11, 2008. GE Consumer Finance is a major competitor in Japan's consumer finance industry and the acquisition by Shinsei Bank marks a significant development in the bank's consumer finance strategy.
The Simpson Thacher team working on the transaction includes: David Sneider, Andrew Hecht, Matthew Crosby and Magnolia Samadani (Tokyo M&A); Steve Todrys and Benjamin Applestein (Tax); Lori Lesser and Jennifer Rackoff (IP); and Jack Kerr (Litigation).