EQT envisions a synergistic partnership with the Fukutake family, leveraging the growth potential in both education and nursing care services, shaping a new trajectory for the Japanese giant.
International Ventures
To execute this grand plan, EQT establishes Bezant (HK) Ltd., a Hong Kong-registered entity, backed by BPEA Fund VIII Ltd., registered in the Cayman Islands and overseen by EQT. This international collaboration is poised to redefine Benesse Holdings’ future.
Financial Framework
EQT’s financial ingenuity shines as it secures the funds for this monumental transaction through loans from Sumitomo Mitsui Banking Corp. and Nomura Capital Investment Co. Ltd. However, the deal faces hurdles, demanding antitrust clearance in Japan and China, coupled with approval under Japan’s Foreign Exchange and Foreign Trade Act.
Critical Threshold
EQT must secure at least 49.56%, equivalent to 47.8 million shares, to successfully privatize Benesse Holdings. Failure to reach this threshold would result in the termination of this historic deal.
Board Approval and Advisory Roles
Benesse’s board of directors not only endorses EQT’s offer but fervently urges shareholders to tender their shares. Daiwa Securities Group Inc. assumes a pivotal role as the financial adviser to Benesse, adding another layer of complexity to this multifaceted transaction.
