Japanese SoftBank Corp plans to merge its internet subsidiary, Yahoo Japan with Korea’s messaging app giant, Line Corp. Reuters reports this deal would create a $30 billion tech group as it combines two of Japan’s top QR code payment services. The merger is expected to close in October 2020.
Nagashima Ohno & Tsunematsu and Simpson Thacher & Bartlett are representing SoftBank. Yahoo Japan is being advised by Latham & Watkins and Mori Hamada & Matsumoto.
Anderson Mori & Tomotsune and Shearman & Sterling are advising Line, while its parent Naver Corp is being counselled by Nishimura & Asahi, Kim & Chang and Cleary Gottlieb Steen & Hamilton.