International law firm Simmons & Simmons has advised Nippon Steel Trading Corporation (NST), part of the Nippon Steel group – the leading global steelmaker headquartered in Japan – on its agreement to acquire CLN Slovakia (CLN SK).
CLN SK is an automotive focused steel service company centred in Košice, Slovakia, with approximately 220 kilotonnes of steel processing capacity.
Located within the premises of Nippon Steel Slovakia– a major Slovakian steel producer owned by Nippon Steel Corporation and previously known as U.S. Steel Košice – CLN SK processes steel for the automotive sector and is an accredited steel supplier with longstanding relationships with major manufacturers and suppliers.
The seller is the CLN Group, one of the leaders of the automotive supply chain industry in Europe over the last century.
NST’s acquisition of CLN SK follows major Nippon Steel investment in the region, including in Nippon Steel Slovakia, which represents its core European base. In September, Nippon Steel also announced plans to invest approximately €900 million in the existing base to support sustainable growth and decarbonisation.
The Simmons & Simmons team advising NST was led by London based corporate Partner Jason Daniel and Supervising Associate Hana Bell. The cross-border transaction involved UK, Slovakian and Italian aspects and was led together with Simmons & Simmons Milan and leading Slovakian firm Hillbridges.
Commenting on the transaction, Jason Daniel said: “Nippon Steel Trading’s acquisition of CLN Slovakia represents an important step in the group’s strategy in Central Europe, strengthening its automotive offering in the region and building on recent major investment.
The transaction underlines our ability to support world-leading clients on complex cross border transactions and we have been delighted to bring together our international expertise to help Nippon Steel Trading deliver on its long-term growth plans in Europe.”
