Kyocera Corporation has resolved to transfer all shares of its US subsidiary, Kyocera Industrial Tools, Inc. (KITI), which engages in the distribution of materials and tools for construction and industries, to TL Sapphire Holdings, Inc., an affiliate of Truelink Capital Management, LLC. Following the Share Transfer, KITI and its wholly owned subsidiary, SouthernCarlson, Inc., and its subsidiaries will no longer be consolidated subsidiaries of the Company.
Latham & Watkins LLP represented the financing sources in the transaction with a team led by Stelios Saffos, Global Chair of Latham’s Capital Markets Practice, and partners Jesse Sheff and Peter Sluka, and counsel Katherine Page, with associates Tulika Sinha and Amishi Magdani. Advice was provided on tax matters by partner Bora Bozkurt, with associate Kathryn Harrington; and on uniform commercial code matters by counsel Emily Leong, with associate Sean Travers.
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