Mitsubishi Corporation (TSE:8058) agreed to acquire 25% stake in South Staffordshire Plc from KKR & Co. L.P. (NYSE:KKR) on January 22, 2016. Mitsubishi Corporation (TSE:8058) reached an agreement to acquire 25% stake in South Staffordshire Plc from KKR & Co.

L.P. (NYSE:KKR) on February 3, 2016. Mitsubishi will dispatch Director and staff to South Staffordshire. The transaction is subject to customary regulatory approvals and approval of European Commission.

As of February 17, 2016, The European Commission approved the transaction. Alvaro Membrillera, Wim De Vlieger, Adam Wollstein, Paula Querol, David Vann, Étienne Renaudeau, Meredith Jones and Joseph Tootle of Simpson Thacher acted as legal advisors for KKR and South Staffordshire. Ben Ward, Tim Briggs and Lachlan Mitchell of Herbert Smith acted as legal advisors for Mitsubishi.

Ernst & Young UK, Investment Banking Arm acted as financial advisor and provided due diligence to Mitsubishi Corporation.