Press Release
Transaction Aligns with JXTG Energy’s Stated Recommitment to Core Business
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
06.07.18
Pillsbury advised JXTG Nippon Oil & Energy Corporation on the pending sale of two of its biotech units—Irvine Scientific Sales Company, Inc. and IS JAPAN CO., LTD.—to Fujifilm Corporation. The approximately US$800 million stock purchase was announced March 29.
The transaction reflects JXTG Energy’s recommitment to its core energy business and Fujifilm’s continued expansion into regenerative medicine and pharmaceuticals. Irvine Scientific and IS Japan are leaders in the innovation and manufacture of cell culture media, reagents, and medical devices for researchers and clinicians.
The cross-office Pillsbury team representing JXTG on this deal was led by New York partner Shinya Akiyama and Los Angeles partners Chris Patay and Didi Chow. The team advising on the transaction also included partners Steve Becker, Richard Blaylock, Nora Burke, Jim Chudy, Nancy Fischer, Mark Jones, Jennie La Prade, Bill Waller and Stacie Yee; senior counsel Alvin Dunn; special counsel Julia Judish; counsel Michael Horikawa; senior associates Colleen Lamarre, Justin Krawitz, Sara Stinson and Erica Turcios Yader; attorney Evan Storm; and associates Karen Chan, Kevin Lin and Ron Robertson.