Hogan Lovells is advising Mitsubishi Heavy Industries (MHI) on its participation in a global joint venture between Mitsubishi-Hitachi Metals Machinery -- itself a joint venture between MHI, Hitachi, and IHI Corporation -- and Siemens, in the field of metals machinery technology.
The firm is advising MHI on all aspects of the transaction. The joint venture will be a global full spectrum supplier of facilities, products, and services for the iron, steel, and aluminum industries, and will have more than 9,000 employees. Its headquarters will be located in Great Britain and its main divisional centers will be in Linz, Erlangen, Hiroshima and Tokyo.
MHI, which is listed on the Tokyo stock exchange, is a multinational engineering, electrical equipment, and electronics company headquartered in Tokyo, Japan. It employs over 60,000 people worldwide.
Siemens, which is listed on the Frankfurt stock exchange, is a multinational engineering and electronics conglomerate company headquartered in Berlin and Munich. It is Europe's largest engineering company, and employs over 350,000 people worldwide.
The completion of the transaction is subject to clearance from the relevant competition and other regulatory authorities.
The transaction is being led out of Hogan Lovells' London office by Corporate Partner Ben Higson, supported by a large team from offices including the UK, Belgium, Germany, Japan, and the US, and involving Partners Matthias Hirschmann, Karen Hughes, Christian Stoll and Chris Thomas, Of Counsel Robert Darwin, and Senior Associate Jan Blockx.
Commenting on the transaction, Ben Higson said: "We are delighted to be advising MHI on this important transaction, which brings together two partners with outstanding and complementary technological competencies. We are enjoying working closely with the legal and M&A teams at MHI, whom we know well, and are looking forward to continuing to support MHI through to completion."