Paul Hastings Advises Traxon on its Sale of a Majority Stake to OSRAM
Hong Kong (January 12, 2009) – Paul, Hastings, Janofsky & Walker, a leading international law firm, announced today that it has successfully advised Traxon Technologies (Traxon), one of the world’s leading systems and solutions providers in the LED-based lighting industry, on its agreement to sell a majority interest to OSRAM, one of the world’s leading lighting manufacturers and a wholly-owned subsidiary of Siemens. The completion of the transaction is subject to certain government approvals.
In relation to the sale, Paul Hastings advised Traxon on its large scale global restructuring which was required before OSRAM could proceed with the acquisition. This involved complex legal issues across numerous jurisdictions including China, France, Germany, Hong Kong, Japan, the Netherlands, the U.K. and the U.S.
Daniel Kim, the Paul Hastings M&A partner who led the team, commented: “We are delighted to have represented Traxon on this landmark transaction. Given the current turmoil in the global markets, it is a significant achievement for all concerned. The transaction involved providing complex legal advice across numerous jurisdictions and the restructuring portion had to be completed within a very short timeframe.”
The Paul Hastings team that advised on the restructuring and the sale featured a collaboration of lawyers from its offices in Asia, Europe and the U.S. The team was led by M&A partner Daniel Kim and included Dongho Lee, Charles Kim, Catherine Chu and Wingyan Ng in Hong Kong, assisted by Erwan Barre and Guillaume Boitel in Paris, Christopher Wolff and Christian Halasz in Frankfurt, Sergio Weingarten in London, Jun Usami in Tokyo and Jane Song in San Diego.
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