The agreement includes a minority investment by Sumitomo Corporation in BIA Group and will enhance the company’s exposure to BIA Group’s distribution networks in Europe and Africa.
Leading international law firm Herbert Smith Freehills has advised Sumitomo Corporation on a strategic partnership with BIA Group to enhance the companies’ distribution of Komatsu construction equipment.
The agreement includes a minority investment by Sumitomo Corporation in BIA Group and will enhance the company’s exposure to BIA Group’s distribution networks in Europe and Africa.
Sumitomo Corporation is a leading Fortune 500 global trading and business investment company, whose business portfolio includes the distribution and rental of Komatsu construction equipment.
Belgium-headquartered BIA Group supplies and maintains construction machinery, including Komatsu, in the mining and quarrying, construction, transport, and energy sectors.
“This agreement brings together Sumitomo’s global experience in construction equipment distribution with BIA Group’s established networks in Europe and Africa,” said Tokyo partner Joseph Fisher.
“Investment is increasing in African infrastructure, particularly in energy transition, transport and digital and, in turn, demand is growing for the machinery needed to build these projects.”
Joseph led the team advising Sumitomo, with partners Graeme Preston in Tokyo and Gavin Davies in London, and assisted by senior associate Ryu Long and associate Alexander Chuprunov.
Stibbe advised on Belgian law aspects of the agreement.
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