Apollo Funds to Acquire Nippon Sheet Glass Company in $3.7 Billion Deal

Paul, Weiss is advising Apollo-managed funds on a strategic series of transactions to acquire Nippon Sheet Glass Company, Limited, a global leader in architectural, automotive and technical glass. Under the agreement the Apollo funds will invest equity to support NSG’s financial position and long-term growth.

Under the terms of the agreement, Apollo Funds will invest equity to support NSG’s financial position and long-term growth. In conjunction with this investment, NSG’s principal lenders will effectively transition a portion of their outstanding loans to equity, reinforcing their commitment and enhancing NSG’s growth trajectory by providing for a more stable balance sheet structure.

The transaction is Apollo funds’ fifth private equity investment transaction in Japan, and will mark the largest transaction in Japan to date, totaling nearly $3.7 billion in enterprise value. The transaction is expected to close by around March 2027, subject to NSG shareholders’ approval, regulatory clearances and other customary closing conditions.

The Paul, Weiss team is led by corporate partner Tong Yu and includes partners Christopher Sullivan, Matthew Friedman, David Carmona and Manuel Frey, and counsel Chikara Momota, David Thomas, Ashley Hearn and Jeremy Larkins; antitrust partners Scott Sher, Annie Herdman, David Higbee, Charles Crandall, James Parkinson and Katharine Haigh, and counsel Zuzanna Knypinski; intellectual property partner John Patten; tax partner Sohail Itani; and executive compensation partner Lawrence Witdorchic.