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Top Japanese Law Firms Advised On Itochu Corp Acquisition Of Descente And CI Takiron
![Itochu Itochu](https://www.legaleraonline.com/h-upload/2024/08/09/1330216-itochu.webp)
Top Japanese Law Firms Advised On Itochu Corp Acquisition Of Descente And CI Takiron
Itochu Corp, a major Japanese trading giant, is undertaking two concurrent acquisitions in the apparel and chemicals sectors, totaling JPY 220 billion (approximately USD 1.5 billion). The transactions involve Itochu's full acquisition of Japanese sportswear manufacturer Descente for JPY 182.62 billion and its bid for complete control of Japanese chemicals company CI Takiron Corp for JPY 37.61 billion.
Nagashima Ohno & Tsunematsu, Mori Hamada & Matsumoto, Anderson Mori & Tomotsune, Nishimura & Asahi, and Kitahama Partners are advising on these deals. Nagashima Ohno, Mori Hamada, and Anderson Mori are guiding Itochu’s acquisition of Descente, while Nishimura & Asahi, Anderson Mori, and Kitahama Partners are supporting Itochu in acquiring CI Takiron.
Itochu, through its wholly-owned subsidiary BS Investment Corp, currently owns 44.44% of Descente, which is listed on the Tokyo Stock Exchange’s prime market. The company aims to acquire the remaining shares, over 4 million in total.
Nagashima Ohno is advising Itochu on the Descente acquisition, with partners Tatsuya Okano, Shuichi Nishimura, Tsuyoshi Isshiki, and Yu Tamura leading the team. Mori Hamada is representing Descente, while Anderson Mori is advising the special committee formed by Descente to review Itochu’s offer.
In the CI Takiron deal, Itochu, which already holds 55.49% of the company, plans to acquire the remaining 44.31% stake through its subsidiary API GK. Nishimura & Asahi is advising Itochu, Anderson Mori is representing CI Takiron, and Kitahama Partners is assisting the special committee of CI Takiron, led by partners Koji Ebato and Takuya Tome.