Simpson Thacher & Bartlett and Nishimura & Asahi advised U.S. buyout firm KKR on its $2.3 billion acquisition of Hitachi Kokusai Electric, the Japanese conglomerate’s chip-making equipment and video solution unit, which tapped Mori Hamada & Matsumoto for advice.
After completing the deal, KKR will spin off the chip-making equipment unit and retaining 100 percent ownership of the business, reported Reuters. It will also sell a 40 percent stake in the video solutions business to Hitachi and investment fund Japan Industrial Partners, which was advised by Anderson Mori & Tomotsune.
This is KKR's second acquisition of a business owned by Hitachi, following its purchase of power-tool unit Hitachi Koki for about $1.35 billion in January. Hitachi is expected to reorganise its business structure.
The STB team was led by partner David Sneider, while partner Asa Shinkawa handled the deal for N&A.
Yo Uraoka oversaw the transaction for MHM while partner Ko Wakabayashi headed the AMT team.