Freshfields Advises Hitachi on its Strategic Home Appliance Transactions with Nojima and Arçelik

Global law firm Freshfields is advising Hitachi as lead counsel on its strategic home appliance transactions with Nojima Corporation (“Nojima”) and Arçelik A.Ş. (“Arçelik”). In a series of related transactions, Nojima will acquire 80.1% of Hitachi’s Home Solution Business Division, including the right to acquire Arçelik’s 60% interest in Arçelik Hitachi Home Appliances B.V. (“AHHA”), Hitachi’s existing 40% stake in AHHA, and Hitachi Global Life Solutions, Inc.’s domestic home appliance business in Japan, by way of corporate split and share purchase agreement. Total transaction value is expected to be approximately JPY 137 billion (US$860m).

The partnership aims to achieve sustainable growth and enhance the value of the Hitachi brand home appliance business.

Freshfields advised on all aspects of the transactions. The multi-jurisdictional, cross-practice Freshfields team was led by partner Noah Carr, with support from associates Haley Zhang, Tomonori Fernandez and Yuu Itoh (all Tokyo). Intellectual Property advice was provided by partner Harry Evans and associate Harshavardhan Ganesan (both Singapore), as well as partner Menachem Kaplan and associate Rhea Khakhria (both New York). Tax advice was provided by counsel Sam Withnall and associates Annabel Kennard and Melissa Pear (all London). Antitrust advice was provided by partner Kaori Yamada, senior associate Emily Seo and associate Myongwon Lee (all Tokyo). Employment advice was provided by partner Stephanie Chiu (Hong Kong) and associate Emily Rigler Gillingham (London).