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KKR acquires Japanese logistics co

KKR has completed the JPY7.2 billion ($5.2 billion) acquisition of Hitachi Transport System (HTS), a third-party logistics business based in Japan, from Hitachi, with the company set to be renamed as LOGISTEED Ltd from 1 April 2023. 

KKR holds the shares of HTS through HTSK Co, Ltd (HTSK), a special purpose entity which owns 100% of the shares with voting rights in HTS, and through HTSK Holdings Co, Ltd (HTSK Holdings), a 100% parent and holding company of HTSK. 

KKR will work in strategic partnership with Hitachi, which owns 10% of the shares with voting rights in HTSK Holdings, while KKR owns the remaining 90% of the shares with voting rights.

As of 1 April, HTSK Holdings and HTSK will change their names to LOGISTEED Holdings, Ltd, and LOGISTEED Group, Ltd, respectively.

HTSK acquired 100% of the shares with voting rights in HTS through a cash tender offer, the results of which were announced on 30 November, 2022, a share consolidation that became effective on 28 February, 2023, and a buyback by HTS of the shares held by Hitachi on 1 March, 2023.

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