We are advising Japan Industrial Partners on the acquisition

Davis Polk is advising Japan Industrial Partners, Inc. on North and South American aspects, including advice concerning U.S. securities law and regulatory approvals, of the acquisition of Toshiba Corporation by Japan Industrial Partners. Toshiba shareholders will receive a consideration of ¥4,620 per share, or approximately ¥2 trillion yen (approximately $15.2 billion) in aggregate.

Japan Industrial Partners, based in Tokyo, is a private equity firm established in 2002. It engages in private equity investments primarily in Japanese companies, with more than 20 investments and carve-out transactions completed to date.

Toshiba, based in Tokyo, is a Japanese multinational conglomerate originally established in 1875. Toshiba is engaged in diversified products and services including power, industrial and social infrastructure systems, elevators and escalators, electronic components, semiconductors, hard disk drives, printers, batteries and lighting, as well as cutting-edge IT solutions. Toshiba is listed on the Prime Market of the Tokyo Stock Exchange and the Premier Market of the Nagoya Stock Exchange.

The Davis Polk corporate team includes partner Ken Lebrun and associate Paul Jun. Partner Paul D. Marquardt and associate Charles Marshall Wilson are providing CFIUS advice. The antitrust and competition team includes partner Ronan P. Harty, counsel Mary K. Marks and Matthew Yeowart and associates Gregory S. Morrison and Sara Moshfegh. Partner Brian M. Burnovski is providing litigation advice. Members of the Davis Polk team are based in the Tokyo, London, New York and Washington DC offices.