3 Firms Guide Sumitomo Mitsui Unit's $1.3B Kenedix Buy

Law360 (November 20, 2020, 3:13 PM EST) -- Sumitomo Mitsui Finance and Leasing will pay 132 billion yen ($1.3 billion) for a majority stake in real estate investor Kenedix, the companies said Friday, in a deal constructed with help from law firms Mori Hamada, Nagashima Ohno and Anderson Mori.

An entity affiliated with Sumitomo Mitsui Finance and Leasing Co. Ltd. will purchase a 70% stake in Kenedix Inc. by paying 750 yen per share, the announcement said. Kenedix is a Japan-headquartered real estate asset management company that invests on its own behalf and manages real estate investments for clients, according to its website.

Sumitomo Mitsui Finance and Leasing is...

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