Simpson Thacher & Barlett and Japanese firm Nishimura & Asahi have won leading roles on private equity firm Kohlberg Kravis & Roberts & Co’s acquisition of Panasonic Healthcare Co of Japan.

The JPY165bn (US$1.67bn) deal will see KKR acquire the entire share capital of Panasonic Healthcare, which focuses on in vitro, diagnostics, medicom and biomedical businesses, and then re-allocate 20% of the shares to parent company Panasonic Corporation.