The deal already has been approved by the boards of both companies. Masamichi Terabatake, CEO of JT Group said: “We are confident that this transaction will increase corporate value for the JT Group by enabling us to obtain a significant and historically robust business.
Vector’s CEO Howard M. Lorber commented that the transaction benefits stockholders will be clear by what he described as “the immediate and substantial value creation”.
Legal Teams Behind the Deal
The Freshfields team advising JT Group is being led by corporate and M&A partners Paul Humphreys and Sebastian Fain. The Sullivan & Cromwell team advising Vector Group includes corporate partners Alison S. Ressler and Alan J. Fishman.
