DigitalBridge To Take JTOWER Private, Acquires Majority Stake

(RTTNews) - DigitalBridge Group Inc. (DBRG) Monday announced 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, 2024 and concluded on October 10, 2024, was conducted through DB Pyramid Holdings, LLC, 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 70.1 billion, 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.

Justin Chang, Senior Managing Director and Head of Asia at DigitalBridge, said: "We are excited to solidify our investment in JTOWER, a leading player in Japan's digital infrastructure sector. This strategic investment underscores our confidence in JTOWER's long-term potential and its critical role in advancing next-generation digital networks. We look forward to collaborating with the JTOWER team to accelerate their growth, expand their presence, and drive enhanced connectivity throughout Japan, while continuing to serve the strategic and operational needs of customers."