Linklaters and Gaien Partners advise Carrier on the acquisition of Toshiba’s stake in Toshiba Carrier

Linklaters and Gaien Partners have advised Carrier on the acquisition of Toshiba’s ownership stake in Toshiba Carrier, a joint venture air conditioning business between Carrier and Toshiba established in 1999, for an initial consideration of approximately $900 million.

The acquisition will include all of Toshiba Carrier’s research and development centres and global manufacturing operations, product pipeline, and provide Carrier with long-term use of Toshiba’s brand. The closing of this transaction is anticipated in Q3 this year, conditional, among other things, on antitrust and FDI approvals in Japan, China, France, Turkey, and Kingdom of Saudi Arabia.

Linklaters worked closely with Satoko Kuwabara, Corporate partner at Gaien Partners, a high-quality, boutique Japanese law firm, specialising in providing business-oriented solutions for clients across a range of practice areas, to provide a seamless service to the client. 

The cross-border Linklaters team advised on English, Japanese, PRC, Thai and other local laws and was led by Corporate partners Derek Tong (London) and Matthew Bland (Tokyo). They were supported by partners Hiroya Yamazaki (Tokyo, Corporate), Kenneth Lam (Tokyo, Structured Finance), Richard Gu (Shanghai, Corporate), Sutthipong Koohasaneh (Bangkok, Corporate), Daniel Cousens (Warsaw, Corporate), Julia Schönbohm (Frankfurt, IP), Laure de Panafieu (Singapore, Employment), Marly Didizian (London, TMT) and Christoph Barth (Düsseldorf, Antitrust), managing associates Atif Wolfgang Bhatti (Frankfurt, IP) and Sinziana Ianc (Düsseldorf, Antitrust) and London Corporate associates Merve Akkus and Divpriya Chawla. 

This is the latest deal that highlight’s Linklaters’ cross-practice expertise in dealing with global M&A, drawing on expertise from the firm's Employment, TMT & IP and Antitrust & Foreign Investment practices, in addition to the Corporate and Finance practices.