Knauf International Gmbh agreed to acquire a 53.75452% stake in Chiyoda Ute Co., Ltd for ¥7.7 billion on April 25, 2022. Knauf International Gmbh will acquire 12,759,798 shares at ¥605 per share. Tender offer will be open from April 26, 2022 to June 10, 2022. The tender offer is completed and Knauf International reaches more than the minimum acceptance level. The transaction is expected to complete on June 17, 2022. Takeshi Nakao with support from partner Jochen Ellrott acted as legal advisor to Knauf International Gmbh.

Knauf International Gmbh completed the acquisition of 53.75452% stake in Chiyoda Ute Co., Ltd on June 20, 2022