Clifford Chance has advised Japanese trading house Mitsui on its $472.5 million acquisition of a 70 percent stake in food constituent manufacturer Nutrinova Netherlands from Celanese, which was represented by Shearman & Sterling.

Nutrinova manufactures and sells functional ingredients for the production of low-calorie and low-carb foods. The transaction, scheduled to close by the end of March 2024, is expected to help Mitsui expand its health-related business amid the global trend of physical wellbeing, Nikkei reported.

The Clifford Chance team was led by partner Natsuko Sugihara, who was supported by partners Benjamin Sibbett, Matthew Warner, Jeroen Thijssen, Michiel Sunderman, Gunnar Sachs, Ines Keitel, Dimitri Slobodenjuk and Thomas Voland.