Jurisdiction - Japan
Japan – Shearman & Sterling Advises Oki Electric On Partnership In Brazil With Itautec.

15 May, 2013


Shearman & Sterling is advising Oki Electric Industry Co. Ltd. on its strategic partnership with Itautec S.A, the banking and retail automation and services business controlled by ITAÚSA – Investimentos Itaú S.A.  The partnership involves the acquisition by Oki of 70% of a newly created Brazilian entity that will hold the automation and services business of Itautec, with the remaining 30% continuing to be held by Itautec.
The automation and services business of Itautec includes a manufacturing facility in Brazil, service sites throughout Brazil and sales and services operations in several countries in Latin America and Europe. The division designs, develops, manufactures, sells and maintains automation equipment such as ATMs and other financial services equipment. The transaction is subject to customary conditions, including regulatory approvals, and is expected to close by the end of December 2013.
The Shearman & Sterling team includes partner Kenneth Lebrun and associates Gordon Palmquist and Kenji Strait in Tokyo and associate Raleigh Morgan in New York.


For further information, please contact:


Winnie Tang, Shearman & Sterling 


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