Clifford Chance

Clifford Chance advises Mitsubishi Corporation on strategic increase of stake and business alliance with Thai Union Group

Global law firm Clifford Chance has advised Mitsubishi Corporation on the acquisition of additional shares in Thai Union Group Public Company Limited (TU), a company listed on the Stock Exchange of Thailand, to increase its stake from 6.19% to 20% (excluding treasury shares). TU manufactures and sells processed seafood products, including canned tuna, pet food and frozen seafood in Asia, Europe, Africa and North America.

Mitsubishi Corporation, a global conglomerate headquartered in Japan, has been a shareholder of TU for over 30 years. As part of the above transaction, the firm has also advised Mitsubishi Corporation on the entry into a business alliance agreement with TU.

Lead Partner Amy Ho said, "We are proud to have supported Mitsubishi Corporation on this milestone transaction, building on our long-standing relationship and strong understanding of their strategic objectives. Our extensive experience advising Japanese clients on complex outbound investments, particularly in Southeast Asia, enables us to deliver tailored, cross-border legal solutions that help our clients achieve their growth ambitions."

Amy was supported by cross-border and cross-practice teams advising on the international aspects of the deal, including

• M&A aspects: counsel Vipavee Map Kaosala and Chloe Choy, senior associate George Lau, associate Adam Boulanger and trainee solicitor Natalie Tse (all Hong Kong-based).
• Merger control and Foreign Direct Investment (FDI): partners Masafumi Shikakura (Tokyo) and Luciano di Via (Rome), counsel Chandralekha Ghosh (Tokyo) and Caroline Scholke (Düsseldorf), associates Lisa Rotterdam (Düsseldorf) and Alessandra Oliva (Milan), and trainee solicitor Yuka Queen (Tokyo).
• Compliance: counsel Tess Forge (Singapore). Chuchu Wei (associate) from Shanghai He Ping Law Firm* has also provided support.

This transaction continues Clifford Chance’s track record of advising on high-profile cross-border M&A transactions in Southeast Asia such as advising Home Credit on sale of its Vietnam business to Siam Commercial Bank for €800 million and Barito Renewables on its acquisition of five wind assets in Indonesia, including the country's largest wind farm.

* Clifford Chance LLP and Shanghai He Ping Law Firm have established a Joint Operation in the China (Shanghai) Pilot Free Trade Zone under the name Clifford Chance LLP and Shanghai He Ping Law Firm (FTZ) Joint Operation Office with the approval of the Shanghai Bureau of Justice.