Status: Clearance; Mitigation

Acquirer: Ningbo Joyson Electronic Corp. (China)
Acquired: Takata Corp. (Japan)
Value: $1.6 billion
Industry Tags: Automotive; Textiles

On April 11, 2018, auto components maker Key Safety Systems completed “a $1.6 billion deal to acquire air-bag maker Takata Corp . . .” (Reuters, Key Safety Systems completes deal to acquire air-bag maker Takata, Apr. 11, 2018.) “The combined companies would be renamed Joyson Safety Systems, after a consortium led by KSS’s Chinese parent company, Ningbo Joyson Electronic Corp, provided funding to acquire most of Takata’s operations, Joyson Safety Systems said in a statement.” (Id.) “As a part of the Acquisition of Takata Business, the [Ningbo Joyson Electronic Corp.’s] non-wholly owned subsidiary, Joyson Auto Safety Holdings S.A. acquired 100% equity interests in Highland and 21.6% equity interests in Dalphi Metal. . . . Highland is a supplier of goods and services to the U.S. Government via its ballistic missile operations. As a condition to obtain approval from the Committee on Foreign Investment in the United States on the acquisition of Highland, the Group agreed the Highland business to be managed by a specialized trust which is responsible for the sold-out of the Highland business with all the proceeds to the Group.” (Ningbo Joyson Electronic Corp., English Translation of Financial Statements for the Year 1 January 2018 to 31 December 2018.)

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