Ropes & Gray on Bain's $1.3 Billion Japanese TV Shopping Buy
The Boston-based law firm is advising Bain Capital on its acquisition of a 50-percent stake in Japanese television shopping network Jupiter Shop Channel.
By Jessica Seah|June 25, 2012|Originally published on International
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Ropes & Gray is advising private equity firm
Bain Capital on its acquisition of a 50-percent stake in Japanese television shopping network Jupiter Shop Channel.
According to Reuters, Bain has agreed to pay Japanese trading company Sumitomo Corp. approximately $1.3 billion for the stake. The acquisition is being financed by a group of banks – Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking Corp., and Mizuho Corporate Bank Ltd. – which is being advised by
Baker & McKenzie.
Jupiter Shop, Japan’s version of the Home Shopping Network or QVC, broadcasts 24 hours a day and offers products ranging from cosmetics and food to home appliances. Sumitomo will continue to own the other 50 percent of the channel.
Ropes & Gray partners Tsuyoshi Imai in Tokyo and Michael Nicklin in Hong Kong are leading the firm’s team advising Bain. The law firm and the private equity group, both based in Boston, have a longstanding and deep relationship, as detailed in
this June feature in The American Lawyer.
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