Simmons & Simmons in association with TMI Associates has advised Kasai Kogyo, the listed Japan-based auto interior components maker, on the acquisition of all the shares of R-TEK.
R-TEK manufactures and sells automobile interior parts to Japanese automobile manufacturers operating businesses in the UK.
R-TEK is Kasai Kogyo’s UK-based 50/50 joint venture with UK-based Reydel, a subsidiary of Michigan-based automotive company Visteon. The transaction involved the termination of the joint venture agreement and the signing of a share purchase agreement, turning R-TEK into a wholly-owned subsidiary of Kasai Kogyo.
The team was led by Corporate partners Nobuyuki Watanabe andJason Daniel, supported by Yu Hosaka, Tom Fricke and Greg Branagan.
Commenting on the transaction, Jason Daniel said: ‘‘We are very pleased to have assisted Kasai Kogyo on the expansion of their business in the UK. The joint venture has been performing strongly and we hope that this gives it an even stronger platform for success.”
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