Latham & Watkins instructed by Teijin on Inapal Plasticos deal

Latham & Watkins advised Teijin on its acquisition of Portuguese automotive component supplier Inapal Plasticos.

Teijin was also advised by Lisbon-based law firm Azeredo Perdigão & Associados on the deal.

Inapal was acquired by the Teijin Group’s holding company in the Netherlands.

Inapal, headquartered in Porto is a supplier of composite components to the automotive and heavy truck industries. The company has two manufacturing plants in Portugal that serve a variety of customers including Jaguar, Land Rover, BMW, Mercedes, Volkswagen and Bentley.

Inapal also supplies components to the heating and cooling industry, as well as passenger seating parts to the bus and rail industries. The company’s sales totalled €31.9 million in 2017.

Teijin operates in sector including plastics and films, composites and healthcare. The company employs 19,000 people in 20 countries. It posted sales of $7.6 billion in the financial year ending March 31, 2018.

The Latham & Watkins’ team was led by Madrid-based partner Jose Antonio Sánchez Dafos and included associate Ori Assa and counsel Iván Rabanillo. The team from Azeredo Perdigão & Associados was led by managing partner Miguel de Azeredo Perdigão and included associates Pedro Morão Correia, Luís Filipe Garcia and Inês Henriques de Matos.