Nishimura & Asahi, Sullivan & Cromwell, Morrison Foerster, Nagashima Ohno & Tsunematsu and White & Case have advised on the USD1.1 billion sale of Japan’s Pioneer Corporation by global investment firm EQT to Singapore-based CarUX Holding.
CarUX, represented by Sullivan & Cromwell, will acquire all shares in Pioneer, a Japanese provider of in-car sound and multimedia products and solutions for global equipment manufacturers.
“The S&C [Sullivan & Cromwell] Hong Kong teams are working together with our London office on international FDI/merger control, the New York office on US antitrust and the DC office on CFIUS [Committee on Foreign Investment in the US] from day one to map out the regulatory requirement landscape for this transaction, and discuss with sell side counsel (sell side used different law firms for different regulatory matters) on the assessment, as well as reaching an agreement as to how to handle regulatory matters,” Ching-Yang Lin, partner at Sullivan & Cromwell, told Asia Business Law Journal.
The Sullivan & Cromwell team includes partners Lin, Chris Beatty, Juan Rodriguez, Eric Kadel and Jameson Lloyd.
CarUX was also assisted by Nishimura & Asahi, which advised on necessary regulatory matters under Japanese law for the closing of the deal. The Nishimura team was led by partners Masaki Noda, Sakka Kobayashi, Yuki Sakurada, James Campbell and Nobuhiro Tanaka.
White & Case advised EQT on financing and M&A matters, with partners Clara Shirota, Shino Asayama, Lorraine Yip, Steve Sha and Tzi-Yang Seow.
CarUX, headquartered in Singapore, is an automotive supplier specialising in intelligent cockpit technologies that integrate displays and vehicle control systems to enhance driver experience and safety. It is a subsidiary of Innolux Corporation, a Taiwan-based panel manufacturer.
Morrison Foerster was the lead M&A counsel for EQT on this transaction, led by Steve DeCosse and Naoya Shiota.
Nagashima Ohno & Tsunematsu served as Japanese counsel to EQT and handled matters including due diligence, with Tokyo partners Kazuya Ogawa and Shuichi Nishimura leading.
Expected to close in late 2025, the deal aims to help CarUX expand globally by combining its platform with Pioneer’s expertise in automotive sound systems.
