MBK Partners announced that it will participate jointly with Hikari Tsushin and an NEC Capital Solutions-affiliated company in a tender offer to take Japan's Leopalace21 private. The total consideration is approximately ¥267.6 billion, with a TOB price of ¥1,000 per share.
MBK Partners will conduct a TOB jointly with Hikari Tsushin and an NEC Capital Solutions-affiliated company to acquire Leopalace21. The acquisition will be conducted through a special-purpose company jointly funded by the 3 companies, with post-completion ownership expected to be 34% for Hikari Tsushin, 33% for MBK Partners and 33% for NEC Capital Solutions.
The TOB price is ¥1,000 per share, representing a premium of approximately 45% to the previous closing price of ¥691. The TOB period runs from the announcement date through the 30th of next month, and completion requires a minimum tender of 48.56% of the issued shares.
Leopalace21 has been normalizing its financial structure, including by resuming its core real estate development business in fiscal 2025. The TOB is positioned as a step toward expanding business synergies. MBK Partners has been pursuing its SS strategy to support structural reforms and business reorganizations in Japan, and further synergies are expected from the collaboration.