EFU Investments Limited and Baring Private Equity Asia Fund VIII managed by BPEA EQT agreed to acquire 83% stake in Benesse Holdings, Inc. (TSE:9783) from Minamigata Holdings Ltd. and others for ¥2600 on November 10, 2023. If the Tender Offer is achieved, the Offeror plans to receive an investment from Bezant (HK) and loans from Sumitomo Mitsui Banking Corporation (?SMBC?) and Nomura Capital Investment Co.Ltd. (?NCI?) up to a total of ¥185 billion on or before the commencement date of settlement of the Tender Offer. Target Company retained Anderson Mori & Tomotsune as its legal advisor independent from the Target Company and DC Advisory, Daiwa Securities as its financial advisor. Karl Pires and Toshiro Mochizuki of Shearman & Sterling acted as legal advisor to Benesse Holdings, Inc.

EFU Investments Limited and Baring Private Equity Asia Fund VIII managed by BPEA EQT completed the acquisition of 70.21% stake in Benesse Holdings, Inc. (TSE:9783) from Minamigata Holdings Ltd. on March 4, 2024.