Apollo to Take Nippon Sheet Glass Private in $1B

Nippon Sheet Glass (NSG) has agreed to implement capital restructuring measures with funds managed by affiliates of Apollo to establish a “new” NSG Group and take the company private. NSG will receive an investment of 165 billion yen (approximately $1 billion) through a third-party allotment of shares to Apollo Funds.

The plan includes delisting NSG and consolidating shares to purchase all shares held by existing shareholders, plus a debt-to-equity swap totaling 140 billion yen (approximately $882 million) by major financial institutions. NSG expects completion in the second half of FY 2027, with ordinary operations continuing before and after the restructuring.