Sumitomo Electric Industries, Ltd. completed the acquisition of 14.7% stake in TECHNO ASSOCIE Co.,Ltd..
Deloitte Tohmatsu Financial Advisory LLC acted as a financial advisor and City-Yuwa Partners acted as legal advisor to TECHNO ASSOCIE. Daiwa Securities Co. Ltd. acted as a financial advisor and Nishimura & Asahi acted as a legal advisor to Sumitomo Electric Industries.
Sumitomo Electric Industries, Ltd. (TSE:5802) completed the acquisition of 14.7% stake in TECHNO ASSOCIE Co.,Ltd. (TSE:8249) on September 19, 2019. Sumitomo Electric Industries, Ltd. acquired 2.734 million shares and now holds 50.92% stake in TECHNO ASSOCIE Co., Ltd.