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Ropes & Gray advises Bain Capital on USD18bn acquisition of Toshiba’s chip business

Global law firm Ropes & Gray has advised long term client Bain Capital on the sale by Toshiba Corp. of its semiconductor business to a group led by Bain Capital, and includes Apple Inc, Seagate, Kingston, Hoya, Dell Technologies Inc. and SK Hynix.

The transaction, which was announced on 28 September, is valued at two trillion yen (approximately USD18 billion) understood to be the largest Japanese deal since 2011, as well as both the largest private equity and leveraged finance deal ever seen in Asia.
 
The Ropes & Gray team advising Bain Capital is being led by private equity partner Tsuyoshi Imai (Tokyo), with private equity counsel Saeko Inaba and finance counsel Ben Morris (both Tokyo). The transaction was accomplished with a cross-office global team that included private equity partner Will Shields (Boston), counsel Kaori Fukazawa (Tokyo), antitrust partner Ruchit Patel (London), business & securities litigation partners Randall Bodner and John Bueker (both of Boston), and Anne Johnson Palmer (San Francisco), securities & public companies partner Thomas Holden (San Francisco), mergers & acquisitions partner Paul Scrivano (New York, San Francisco, Silicon Valley), IP transactions partner Megan Baca (Silicon Valley) and associates Dan Cowan and Adam Leamon (both of Boston) and Chau Le (San Francisco). 
 
The deal was announced on the very day Ropes & Gray celebrated its Tokyo office’s tenth anniversary. Today the firm has three other Asia offices in Hong Kong, Seoul and Shanghai.
 

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