Simpson Thacher is representing Kohlberg Kravis Roberts & Co. L.P. in connection with the planned tender offer by KKR’s affiliate, CK Holdings Co., Ltd., to obtain up to 100% of the issued and outstanding common stock of Calsonic Kansei Corporation (“Calsonic Kansei”). In connection with the tender offer, KKR has entered into a tender agreement with Nissan Motor Co., Ltd. (“Nissan”), pursuant to which Nissan has agreed, subject to certain conditions, to tender its approximately 41% stake in Calsonic Kansei into the tender offer. The planned offer price and other transaction terms value Calsonic Kansei at approximately ¥498.3 billion (approximately $4.5 billion). The commencement of the tender offer is subject to the fulfillment of certain regulatory approvals and other conditions.
Calsonic Kansei is a leading supplier of automotive components including vehicle interiors, climate control systems, compressors, exhaust systems and electronic products. Nissan is the primary customer for Calsonic Kansei, which also supplies other automotive groups including Renault, Isuzu, Daimler and General Motors, among others.
The Simpson Thacher team includes David Sneider, Noritaka Kumamoto, Shannon Itoyama, Michael Young, Dan Miyagishi and David Whelan (M&A); Lori Lesser and Amber Harezlak (IP); Tristan Brown, Paul Koppel and Paul Barrus (ECEB); Makiko Harunari (Financing); Jason Vollbracht and Tanvi Mirani (Tax); Adeeb Fadil and Louise Kruger (Environmental); and David Vann, Michael Naughton, Kenneth Ehrhard, Joseph Thomas and Tara Kelly (Antitrust).