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Simpson Thacher is representing Suntech Power Holdings Co., Ltd., a leading NYSE-listed PV cell manufacturer based in China, in its acquisition of MSK Corporation, one of Japan's largest PV manufacturers. The acquisition will take place in two-steps with a total consideration of up to US$300 million. This transaction also involved an acquisition financing component. This transaction marks the first cross border acquisition by Suntech Power and is one of the largest cross border acquisitions by a non-state owned Chinese company to date. The first step of the transaction is expected to close in the third quarter of 2006 and the second step is expected to close by the end of 2007.

The Simpson Thacher team representing Suntech Power includes Leiming Chen, Patrick Naughton, Daniel Anderson, Johneth Park and Shuang Zhao of the Firm's Hong Kong office and Louis Rabinowitz and Magnolia Samadani of the Tokyo office. Tony Keal of the London office advised on the financing, and Michael Naughton of the New York office and David Vann and Jonathan Parker of the London office provided antitrust advice. Summer associate Anita Yuen also worked on this transaction.