White & Case and Shearman & Sterling, together with Big Four Japanese law firms Mori Hamada & Matsumoto and Anderson Mori & Tomotsune, are advising on the $1.78 billion privatization and buyout of Japanese education services provider Benesse Holdings. 

The buyout deal, which is one the largest in Japan according to Nikkei Asia, will be conducted by Swedish investment house EQT AB Group through a special purpose company together with members of the Fukutake family who founded Benesse Holdings.