Leading international law firm Clifford Chance advised Fujitsu Limited on the formation of a joint venture with Lenovo Group Limited and the Development Bank of Japan Inc.
The joint venture will focus on the research, development, design, manufacturing and sales of Client Computing Devices for the global PC market.
Fujitsu will sell a 51% stake in its wholly owned subsidiary Fujitsu Client Computing Limited to Lenovo and a 5% stake to DBJ. After the transaction, FCCL will become a joint venture company owned by Fujitsu, Lenovo and DBJ and will continue to be known as Fujitsu Client Computing Limited.
The transaction is expected to be closed in 1Q FY2018. The aggregate consideration received by Fujitsu will be JPY 28.0 billion (approximately USD 156.70 million). After the transaction, Kuniaki Saito, the current representative director and president of FCCL, will assume the role of Representative Director and President of FCCL.
Clifford Chance advised Fujitsu Limited on the deal with a team led by partner Natsuko Sugihara (picture), upported by senior associates Masafumi Shikakura and Yvonne Zhong, and associate Brendon Tan. Intellectual Property advice was provided by partner Ling Ho.
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