Valeo’s Partial Tender Offer for Shares of Ichikoh

Davis Polk is advising Valeo, one of the world’s top automotive suppliers, in connection with its partial tender offer for the shares of Ichikoh, which is listed on the First Section of the Tokyo Stock Exchange. Under this tender offer, Valeo is offering to buy shares from Ichikoh shareholders at a price of JPY 408 per share.

The tender offer will run from November 24, 2016 to January 12, 2017. Its completion is subject to Valeo obtaining at least 50.09% of Ichikoh’s capital, including the shares it already holds, with Valeo’s stake capped at 55.08% of the capital in order to maintain the liquidity of Ichikoh shares, which will continue to be listed on the Tokyo Stock Exchange. The transaction is subject to the approval of the relevant antitrust authorities.

Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. Ichikoh has supplied automotive parts such as lamps and mirrors to many automakers for 110 years.

The Davis Polk corporate team includes partners Christophe Perchet (Picture) and Jon Gray and counsel Juliette Loget and Mörk Murdock. Counsel Jean-Mathieu Cot is providing antitrust and competition advice.

Involved fees earner: Christophe Perchet – Davis Polk & Wardwell; Jon Gray – Davis Polk & Wardwell; Juliette Loget – Davis Polk & Wardwell; Mörk Murdock – Davis Polk & Wardwell; Jean-Mathieu Cot – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Valeo SA;

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