ARQIS advises Toray on the acquisition of membrane electrode joint venture from Umicore and Solvay

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ARQIS has advised Toray Industries, Inc. (Toray) on the acquisition by Toray’s wholly-owned subsidiary Greenerity GmbH (Greenerity) of the membrane electrode joint venture SolviCore from the Umicore Group and Solvay Group.

Toray is a leading integrated chemistry group centred on technologies in organic synthetic chemistry, polymer chemistry, and biochemistry. Toray is active in 26 countries and regions worldwide. With the acquisition, Toray will further strengthen its fuel cell business and develop its overseas business outside Asia.

SolviCore develops and manufactures membrane electrode assemblies (MEA) used in fuel cells and proton exchange membrane (PEM) electrolysis and has created a strong portfolio of clients under its Greenerity trademark.

As a result of the transaction, SolviCore will gain access to Toray’s expertise in fuel cell materials and mass production. All business operations will be continued under the label of Greenerity at the company’s current place of business in Hanau near Frankfurt.

The advisory services of ARQIS included legal due diligence, structural advice, as well as contract drafting and negotiations.

Advisor Toray

ARQIS Rechtsanwälte (Düsseldorf): Eberhard Hafermalz (lead, corporate/M&A), Dr. Shigeo Yamaguchi (corporate/M&A), Marcus Nothhelfer (IP), Dr. Tobias Brors (labour), Johannes Landry (restructuring); Counsel: Beata Drenker (commercial); Associates: Patrick Schöldgen, Dr. Deniz Günal (both corporate/M&A), Eva Trost (labour)

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