Simpson Thacher Tokyo Represents Chuo Mitsui Trust Holdings in Global Secondary Offering of Shares by the Government of Japan
07.25.08
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The Firm recently represented Chuo Mitsui Trust Holdings, Inc. and the Resolution and Collection Corporation of Japan (RCC), a subsidiary of The Deposit Insurance Corporation of Japan, in the RCC’s sale of 170,000,000 shares of common stock of Chuo Mitsui Trust Holdings. The offering included a public offering in Japan and offerings to institutional investors in Europe and the United States under Regulation S and Rule 144A. The RCC received gross proceeds of ¥103.5 billion, or approximately $971 million, in the offering. The RCC converted a portion of its preferred stock in Chuo Mitsui Trust Holdings into common stock and sold that common stock in the global secondary offering.
The Simpson Thacher attorneys who worked on the transaction included David Sneider, Alan Cannon, Robert Laplante and Todd Wolfe in Tokyo, Amie Broder in New York and Ben Applestein in Palo Alto.