Tokyo office advises Showa Denko K.K. on strategic acquisition in the UK
16 October 2008

The Tokyo office has just completed its first M&A deal advising Showa Denko K.K., a leading Japanese technology company whose stock is quoted on the Nikkei index. Signing and closing occurred on 30 September 2008. The acquisition was of the entire share capital of F2 Chemicals Limited, a UK based specialist producer of fluorine chemical products. The sellers comprised Mitsubishi Group and Asahi Glass Co, Ltd, both leading listed Japanese companies.

The deal required close cooperation between the Tokyo and London offices given the level of input required on a diverse range of specialist subject matter. The London office took the lead on the due diligence exercise performed at the offices of the UK target and in dealing with the UK pension fund ramifications of the proposed change of control. The Tokyo office took responsibility for presenting the due diligence findings to the client in Tokyo and for supporting on the negotiation of the sale and purchase documentation. The structuring of our international team also enabled effective liaison with both the London and Tokyo offices of Mizuho bank, the leading Japanese investment bank advising Showa Denko K.K. on the transaction.

The Tokyo team was led by Chris Viner with assistance from Steven Moe and the London team was led by Raj Karia with assistance from Ed Rand and James Pullen, as well as specialist teams including intellectual property: Mike Knapper, Dino Wilkinson and Emma Tietjens, property: Onni Roy and Leah Willman, pensions; Lesley Browning, Alan Matthew and Shane O'Reilly, tax; Dominic Stuttaford, environment; Caroline May and Ann-Marie Fisher, dispute resolution; Sam Eastwood and Adam Vause, consumer product and safety law; Richard Blann, employment; Adrian Hoggarth and Emma Sinclair and competition; Mark Jones and Joosje Hamilton.