Mori Hamada & Matsumoto, Nagashima Ohno & Tsunematsu and Nakamura Tsunoda & Matsumoto are advising on Nippon Telegraph and Telephone’s (NTT) JPY2.37 trillion (USD16 billion) acquisition of NTT Data Group, Japan’s largest subsidiary buyout by a parent company since 2020.
Mori Hamada is counselling NTT, with partners Akira Matsushita and Minoru Sawaguchi leading the deal team. The firm is providing overall advice on the transaction.
Nagashima Ohno is representing NTT Data Group, advising on compliance and regulatory approvals related to the tender offer, with partner Soichiro Uno leading. The firm is also supporting the preparation of documents required for the bid.
Nakamura Tsunoda & Matsumoto is also advising NTT Data Group, which received NTT’s letter of intent for the deal on 18 December 2024.
NTT, which already holds about 58% of NTT Data Group, announced plans to acquire the remaining shares via a tender offer at JPY4,000 apiece, a premium of more than 30% above the subsidiary’s last closing price. The offer period runs from 10 May to 19 June.
The move aims to make the data unit a wholly owned subsidiary, which is expected to accelerate NTT Data Group’s overseas expansion and decision-making as demand for its data centres grows.
NTT Data Group began in 1967 as NTT’s data division and was spun off in 1988. It is now expected to be delisted from the Tokyo Stock Exchange following completion of the tender.
AloJapan.com