Knauf’s Takeover and Privatisation of Chiyoda Ute

Freshfields Bruckhaus Deringer advised Knauf International GmbH on the deal.

Knauf International GmbH (‘Knauf’) made a takeover bid and privatisation of Chiyoda Ute Co., Ltd. (‘Chiyoda’), a Japan-listed manufacturer of gypsum boards. The value of the deal is approximately ¥7.7bn (approximately US$59.2m).

The move is a highly strategic one for Knauf: despite the company’s international footprint and leading market position, it did not have a significant presence in Japan in the past. Freshfields’ advice included structuring the public tender offer and subsequent group reorganisations, as well as documenting and implementing the deal.

The multi-jurisdictional Freshfields team advising Knauf was led by Head of Japan Practice and M&A partner Takeshi Nakao (Picture), with support from partner Jochen Ellrott, counsel Marcus Wolter, and associates Naoki Matsushita, Ethan Arles Donovan and Hironori Shimogishi.

Involved fees earner: Ethan Donovan – Freshfields Bruckhaus Deringer LLP; Jochen Ellrott – Freshfields Bruckhaus Deringer LLP; Naoki Matsushita – Freshfields Bruckhaus Deringer LLP; Takeshi Nakao – Freshfields Bruckhaus Deringer LLP; Hironori Shimogishi – Freshfields Bruckhaus Deringer LLP; Marcus Wolter – Freshfields Bruckhaus Deringer LLP;

Law Firms: Freshfields Bruckhaus Deringer LLP;

Clients: Knauf International GmbH;

Giulia Di Palma

Author: Giulia Di Palma