Sidley Austin was global legal counsel to the Nidec Corporation and Alrud and Kinstellar provided local assistance in Russia and Slovakia, respectively, on the company's USD 1.08 billion acquisition of Embraco from the Whirlpool Corporation. Linklaters, Pinheiro Neto Advogados in Brazil, and Cleary Gottlieb Steen & Hamilton were among the firms advising Whirlpool on the sale.
In addition to Sidley Austin, Kinstellar, and Alrud, Machado Meyer Advogados in Brazil, LMCR - La Torre Morgese Cesaro Rio in Italy, and Creel, Garcia-Cuellar, Aiza y Enriquez in Mexico advised Nidec.
The deal was signed on April 24, 2019, and closed on July 2, 2019, following the European Commission’s grant of approval on June 26, 2019. Customary post-closing filings and registrations related to the acquisition of two subsidiaries in China of Embraco are expected to be completed by September 30, 2019.
Founded in 1973 in Kyoto, Japan, the Nidec Group specializes and handles motor application products with the focus on motor business.
Embraco is a Brazilian manufacturer of compressors for refrigeration systems. It was founded in 1971 to supply the Brazilian refrigeration industry. The business has manufacturing facilities in Brazil, Italy, China, Slovakia, and Mexico. Embraco also maintains commercial offices in the United States and Russia.
Whirlpool Corporation, established in 1911, is a home appliance company headquartered in Benton Harbor, Michigan. The company markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and other brand names globally.
The Alrud team was lead by Partner German Zakharov, supported by Partner Alexander Zharskiy and Associate Alla Azmukhanova and Ekaterina Rogacheva.
The Kinstellar team was led by Partner Adam Hodon and included Senior Associate Tomas Melisek and Associates Katarina Zemlova and Andrea Snopekova.
The Linklaters team was led by Partners Peter Cohen-Millstein and Nick Rees, assisted by Senior Associates Kyle Colvin and Tai Vivatvaraphol.