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04 June 2020 / deal

Loyens & Loeff has advised Mitsubishi and Nippon on their joint acquisition of a 30% stake in HERE Technologies

Loyens & Loeff has advised Mitsubishi Corporation (MC) and Nippon Telegraph and Telephone Corporation (NTT) on the joint acquisition of a 30% stake in HERE Technologies. The two Japanese companies have teamed up to invest in HERE via their newly established, jointly owned holding company COCO Tech Holding B.V.

HERE Technologies is a worldwide operating location data and technology platform that has a strong reputation as a provider of automotive grade maps and navigation software. HERE is based in the Netherlands and has been praised as a leader in automotive, industry vision and openness benchmark categories. HERE, being backed by leading automotive companies Audi, BMW and Daimler / Mercedes-Benz, has received additional investment from Bosch, Continental, Intel Capital, Pioneer and, following the transaction, MC and NTT.

Loyens & Loeff has advised MC and NTT as Dutch counsel on, inter alia, the terms of their collaboration, the establishment of COCO Tech Holding B.V. and the joint acquisition of a 30% stake in HERE Technologies. Loyens & Loeff has worked closely with Mayer Brown’s Tokyo office as MC and NTT’s lead counsel. HERE recently announced that its broadened shareholder structure supports the company’s ambitions to accelerate growth in new industries and markets and, with MC and NTT as new Japanese investors, it will have a springboard to further accelerate growth in the Asia Pacific region.

The Loyens & Loeff team consists of Tyshanti de Jonge, Ewout Stumphius, Pieter Schoenmakers (Corporate / M&A), Gerco van Eck, Casper Ooijevaar, Lars van Esveld (Corporate / Notary), Hans Rothuizen, Patrick van Oppen, Louis Lutz, Amit Havenaar (Tax) and Kim Koops (Banking & Finance).

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