Komatsu sells stake in Peru’s Joy Global to Mitsui

The value of the deal was not disclosed.

Mitsui and Komatsu plan to jointly carry out a merger between KMCP and Komatsu Mitsui Maquinarias Peru, in which Mitsui will have a 60% stake and Komatsu 40%.

Komatsu is a construction and mining machinery sales and service company in Peru.

Mitsui has operated and expanded its construction and mining machinery sales and service business in Peru since investing in KMMP in 1996.

By adding KMCP's range of super-large machinery for open-pit and underground mining to KMMP's existing product lineup through this merger, it will be possible to offer customers in Peru a broader range of products and services.

Komatsu was advised on the transaction in Peru by law firm Philippi Prietocarrizosa Ferrero DU & Uría (PPU), with a team led by partner Guillermo Ferrero, with principal associate Víctor Abad and associate Jacqueline Febres.

PPU advised on all aspects of Peruvian law in the transaction, which involved reviewing and commenting on documents subject to the laws of Japan.

Mitsui’s local counsel in Peru was law firm Rodrigo Elías & Medrano, with a team led by partner Jean Paul Chabaneix, with associate Jacques D’Auriol Augusto.