04 03 2016

Mitsui on Norwegian acquisition

Herbert Smith Freehills has advised longstanding client Mitsui & Co., Ltd. on its acquisition of a 25% interest in Norway's Hexagon Composites ASA, listed on the Oslo Stock Exchange, for approximately NOK833 million (US$96 million).


Hexagon is a market leader in the production of lightweight carbon fibre composite pressure cylinders for gas storage and transportation. Mitsui & Co., Ltd. is one of the largest sogo shosha (general trading companies) in Japan, and also part of the Mitsui Group. Its business area covers energy, machinery, chemicals, food, textile, logistics, finance, and more. A cross-office Herbert Smith Freehills team, led by the firm's Tokyo office, advised Mitsui on all aspects of the transaction. Tokyo corporate partner Lex Papasolomontos, who led the deal team advising Mitsui.  was assisted by Tokyo associates James Willis and Elisa Hayashi. Lawyers around the Herbert Smith Freehills network supported the Tokyo deal team, including those in New York, London and Moscow.  Herbert Smith Freehills was assisted by partner Baard Bale and managing associate Knut Martinsen of Thommessen on Norwegian law aspects. Involved fees earner: Lex Papasolomontos - Herbert Smith Freehills; James Willis - Herbert Smith Freehills; Elisa Hayashi - Herbert Smith Freehills; Baard Bale - Thommessen AS; Gunnar Martinsen - Thommessen AS;

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