KKR enters MoU to acquire Fuji Soft

KKR (KKR) announced that in connection with the privatization of Fuji Soft by FK Co., an entity owned by investment funds managed by KKR, a memorandum of understanding was entered into on March 24 with the founding family of Fuji Soft to take the company private. Under the MoU, the parties agree to: collaborate in the implementation of a share consolidation that will result in FK and NFC Corporation becoming the only shareholders of Fuji Soft; vote in favor of various proposals concerning the privatization, including the squeeze-out, at the extraordinary general meeting of shareholders to be held on April 25 and the transfer of Fuji Soft shares held by NFC to Fuji Soft after the completion of the squeeze-out. In addition to the securities that FK acquired through the first and second tender offers for the common shares and share options of Fuji Soft, the squeeze-out and share repurchase will result in FK acquiring 100% of the shares of Fuji Soft. The extraordinary general meeting of shareholders for the squeeze-out is scheduled to be held on April 25 and the share repurchase is currently planned after early June, after the squeeze-out takes effect.