Sekisui Plastics Co., Ltd. completed the acquisition of 75% stake in proseat GmbH + Co. KG from Recticel NV/SA.
February 18, 2019
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Sekisui Plastics Co., Ltd. (TSE:4228) agreed to acquire 75% stake in proseat GmbH + Co. KG from Recticel NV/SA (ENXTBR:REC) on December 19, 2018. In a related transaction, Recticel NV/SA will acquire the remaining 49% stake in Proseat SA /NV. Post completion of the transaction, Sekisui Plastics will hold 75% stake in Proseat SA /NV and the remaining 25% stake will be held by Recticel NV/SA. The agreement contains a call option for Sekisui Plastics Co., Ltd. to acquire the remaining 25% in Proseat from Recticel as from 2019, and a put option for Recticel to sell its remaining 25% in Proseat to Sekisui as from 2022, at pre-agreed price calculation formulae. The transaction is subject to customary closing conditions, including regulatory approval and is expected to close in the first quarter of 2019. Ernst & Young GmbH acted as accountant to Sekisui Plastics Co., Ltd. Muriel Alhadeff, Tim Arndt, Thomas Glauden, Nick Hallemeesch and Micha Gersdorf of White & Case LLP acted as legal advisors to Recticel in the transaction. Christoph von Einem, Shigeo Yamaguchi, Eberhard Hafermalz, Meiko Dillmann, Lars Laeger, Andrea Panzer-Heemeier, Ulrich Lienhard, Marcus Nothhelfer, Mirjam Boche, Philipp Maier, Mauritz von Einem, Florian Kotman, Elisabeth Falterer, Hendrik von Mellenthin, Markus Schwipper and Jennifer Danisch of ARQIS Rechtsanwälte acted as legal advisor for Sekisui Plastics Co., Ltd. In the transaction, ARQIS has lead an international team consisting of Cuatrecasas (Spain), Dentons (Czech Republic, Poland), Gide (France), NautaDutilh (Belgium) and RPC (UK) as well as Held Jaguttis and RCAA. Albert Garrofé of Cuatrecasas, Gonçalves Pereira, S.L.P. acted as legal advisor to Sekisui Plastics.
Sekisui Plastics Co., Ltd. (TSE:4228) completed the acquisition of 75% stake in proseat GmbH + Co. KG from Recticel NV/SA (ENXTBR:REC) on February 19, 2019. All conditions having been met and the necessary regulatory approvals being obtained. Sekisui Plastics Europe GmbH changed its name to Proseat Europe GmbH in conjunction with the deal completion.
Sekisui Kasei Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of foamed plastics and other materials. The Company operates in two business segments. The Life segment is engaged in the manufacture and sale of agriculture and fisheries transport containers, food containers, construction materials related products and among others. The Industry segment is engaged in the manufacture and sale of materials, packaging materials and related products used in automobiles and digital home appliances.
SEKISUI KASEI CO., LTD. 
