Yulchon Advised Japan Korea Joint Smelting Co., Ltd. (“JKJS”), a Japanese Company, on Capital Reduction of and Sale of Its Shares in LS-Nikko Copper Inc. in Korea
2022.09.06.
Yulchon represented JKJS in the reduction of issued and outstanding shares of LS-Nikko Copper Inc. ("LSN") as well as the sale of its shares to LS Corporation ("LS"). The transaction was consummated on September 6, 2022, which put an end to JKJS and LS's cooperation that lasted for 23 years. This transaction, valued at nearly KRW 1.03 trillion, was the largest Korea-Japan cross-border merger and acquisition in recent years. As a result of the transaction, JX Nippon Mining & Metals Corporation, the largest shareholder of JKJS, is now able to better manage its financial portfolio and focus its managerial resources on other important areas of its business.
Yulchon not only analyzed and proposed the optimal deal structure from the beginning of the transaction, but also thoroughly reviewed all the possible legal issues that may arise and affect the transaction, such as corporate, tax, antitrust, and intellectual property, and provide effective solutions to each. Furthermore, with the help of Japan's joint legal counsel Nishimura & Asahi, Yulchon played a leading role in drafting the transaction documents such as share purchase agreement, conducting negotiations with LS, analyzing possible legal issues, and providing accurate analysis and suitable solutions.
Yulchon's professionals have a wealth of knowledge and experience in not only M&A, tax, antitrust, and intellectual property, but also regarding Japanese clients and Japan practice. Such high level of expertise of the professionals was the key to the successful closing of the transaction.
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