KKR To Buy Japanese Real Estate Asset Manager From Mitsubishi And UBS Asset In US$2 Bln Deal

(RTTNews) - KKR & Co. Inc. (KKR) said that its subsidiary 76KK agreed to acquire all of the outstanding shares of Mitsubishi Corp.-UBS Realty Inc from Mitsubishi and UBS Asset Management in an all-cash transaction valued at JPY230 billion or US$2 billion.

Mitsubishi Corp.-UBS Realty is one of the largest real estate asset managers in Japan. Founded in 2000 as a joint venture between Mitsubishi and UBS-AM, MC-UBSR is a pioneer in the Japanese real estate investment trust segment.

76KK will also acquire the units in Japan Metropolitan Fund Investment Corporation and Industrial & Infrastructure Fund Investment Corporation or IIF currently held by Mitsubishi at market price.

The transaction is expected to be immediately accretive to KKR on a Fee Related Earnings per share basis.

The transaction is expected to close in April 2022.