Baker & McKenzie (Gaikokuho Joint Enterprise) has advised Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and MUFG Bank, Ltd., as mandated lead arrangers and senior lenders, on the financing of CVC's acquisition of Shiseido's personal care business.

On 3 February 2021, Shiseido and CVC announced their agreement to transfer Shiseido's global personal care business to a new company 65% owned by CVC and 35% owned by Shiseido. The transaction successfully closed on 1 July 2021.

Gavin Raftery and Shinichiro Kitamura led Baker McKenzie's multijurisdiction team on the transaction, assisted by Emiko Horikawa, Takuya Wada, Hiroyuki Kitamura and Akiko Tsuji in Tokyo, Sally Hung, Kenneth Ching, Karine Chan and Leslie Tsoi in Hong Kong, and Shirley Wang, Grace Chen and Li Zeng (from Baker McKenzie's joint venture firm, FenXun Partners) in China.

Commenting on the deal, Shinichiro said, "In this challenging economic environment, it is increasingly important for companies to navigate complex legal issues and use a variety of techniques to compete globally. We are honored to have helped CVC and Shiseido overcome these challenges and successfully complete this major transaction."

"We are proud that our unparalleled experience, knowledge and network helped build a world-class business platform as part of a famous Japanese company's global strategy," added Gavin.

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