UPDATE DigitalBridge Group (NYSE: DBRG) successfully completed a tender offer for the common shares and the stock acquisition rights of JTOWER (TSE: 4485). JTOWER is Japan’s leading tower company with roughly 7,700 towers, according to Inside Towers Intelligence. The tender offer, which commenced on August 15, 2024, and concluded on October 10, 2024, was conducted through DB Pyramid Holdings, a special purpose entity owned by funds managed by DigitalBridge’s investment management platform.
With the tender offer complete, DB Pyramid Holdings has acquired a 75.62 percent controlling interest in JTOWER for $468 million. DigitalBridge plans to take JTOWER private, making DB Pyramid Holdings 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.
DigitalBridge claims this acquisition strengthens its global portfolio of digital infrastructure assets and reinforces the company’s commitment to driving growth and innovation in key markets.
“This strategic investment underscores our confidence in JTOWER’s long-term potential and its critical role in advancing next-generation digital networks,” comments Justin Chang, DigitalBridge Senior Managing Director and Head of Asia. “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.”
Atsushi Tanaka, Representative Director of JTOWER, said: “With [DigitalBridge] strategic expertise and financial backing, JTOWER is well-positioned to further enhance capital efficiency for its customers and drive the advancement of infrastructure sharing in Japan.”
By John Celentano, Inside Towers Business Editor
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