DigitalBridge acquires majority stake in JTOWER for JPY 70.1B

DigitalBridge (DBRG) announced the completion of a tender offer for the common shares and the stock acquisition rights of JTOWER Inc. The tender offer, which commenced on August 15 and concluded on October 10 was conducted through DB Pyramid, a special purpose entity owned by funds managed by DigitalBridge’s investment management platform. The Offeror has acquired a 75.62% controlling interest in JTOWER for JPY 70.1B, marking a significant milestone in DigitalBridge’s expansion into the Japanese digital infrastructure market. DigitalBridge plans to take JTOWER private, which will make the offeror and Cultive, an asset management company of JTOWER’s Representative Director Atsushi Tanaka, the sole shareholders of JTOWER. The delisting of JTOWER is expected to be completed in Q1 2025.