Cases

T&D Holdings, Inc. - Partnership with Carlyle Group to acquire majority stake in Fortitude Group Holdings from AIG

Professionals
Takuya Oshida
Date
2019
Practice Areas
M&ACross-border M&AInsuranceCross-border Transactions (General)

Leading Japanese law firm Nishimura & Asahi advised Japanese insurer T&D Holdings, Inc. [TSE: 8795](“T&D Holdings”) on its partnership with global investment firm The Carlyle Group L.P. [NASDAQ: CG] (“Carlyle”) for agreement to acquire a majority interest in Fortitude Group Holdings, LLC (“Fortitude”), the reinsurer operating as Fortitude Re, for approximately USD 1.8 billion.

Following the transaction, Carlyle and other investors will own 71.5% of Fortitude, T&D Holdings will own 25% at approximately USD 586 million, and American International Group, Inc. [NYSE: AIG], the global insurance company, will own 3.5%.

The Nishimura & Asahi team advising T&D Holdings was led by partner Takuya Oshida and associate Takashi Tsuboi.