Global law firm Freshfields has guided Toray Industries, Inc. (‘Toray’) to the closing of the sale of its interests in Hungary-based LG Toray Hungary Battery Separator Kft. (‘LTHS’) to LG Chem, Ltd. (‘LGC’). LTHS was a 50/50 joint venture between Toray and LGC, specialising in the manufacturing and sale of battery separator film for rechargeable lithium-ion batteries in Hungary. The transaction occurred over the course of two separate closings for 20% and 30% of Toray’s interests in LTHS to LGC. Freshfields also represented Toray in connection with the initial formation of LTHS with LGC in June 2022.

The Freshfields team advising on the transaction was led by Head of Japan M&A practice Tomoko Nakajima, supported by partner Noah Carr and senior associate Arnold Itagaki. Antitrust advice was provided by partner Kaori Yamada and senior associate Maria Ziprani. IP advice was provided by partner Menachem Kaplan and associate Rhea Khakhria.

Oppenheim Law Firm, a member of Freshfields’ StrongerTogether network, provided support on matters relating to Hungarian law.