J&J offers to buy out skincare firm for $2.1 billion

Oct 23, 2018

Johnson & Johnson have announced its intention to buy all outstanding shares of Japanese skincare firm Ci:z Holdings for approximately $2.05 billion (¥230 billion) in cash.

According to J&J, Ci:z's skincare portfolio will strengthen its market presence in Japan. In July 2016, an affiliate of Johnson & Johnson, Cilag, entered into a long-term strategic collaboration with Ci:z to distribute its brands outside of Japan. As part of this collaboration, Cilag acquired approximately 19.9 percent of the outstanding shares of the company.

Johnson & Johnson expects to launch the tender offer on Oct. 29. Additional information on the tender offer and transactions will be made available to shareholders in the tender offer registration statement for the transaction to be filed on EDINET in Japan.

The tender offer is expected to close in the first quarter of 2019. Upon completion of the tender offer, J&J intends to conduct a squeeze-out procedure to purchase the remaining shares in the Ci:z that were not tendered in the tender offer, which we expect to complete in the first half of 2019.

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