As part of the alliance, KDDI will acquire ordinary shares equivalent to 14.9% of Coincheck Group’s total outstanding ordinary shares (excluding treasury shares) through a third-party allotment of new shares conducted by Coincheck Group.
Further, KDDI entered into a business alliance agreement with Coincheck, Inc. (Coincheck), a wholly owned subsidiary of Coincheck Group and a licensed cryptocurrency exchange operator with one of the largest customer bases in Japan. In this context, KDDI, au Financial Holdings and Coincheck have formed the joint venture “au Coincheck Digital Assets, Inc.”, which plans to develop digital asset wallets.
Houthoff is acting as Dutch counsel to KDDI as part of a cross-border team led by Nishimura & Asahi and complemented by Paul, Weiss, Rifkind, Wharton & Garrison LLP as U.S. counsel. The Houthoff team, led by Willem Liedenbaum, consisted among others of Paul de Vries, Jetty Tukker, Emma Schutte, Manouk Alderliesten and Thomas Boekhout.
