PwC has received an award for its involvement in the acquisition of Arysta LifeScience by IEIL, backed by the Permira funds, the deal selected as the "BEST PRIVATE EQUITY DEAL" in Achievement Awards 2007/2008 - Japan, sponsored by FinanceAsia Magazine.
In this large-scale deal which was announced in October 2007, IEIL, an international investment company based in the Republic of Ireland, backed by the Permira funds, Europe´s largest private equity fund, acquired Arysta LifeScience, a major global agrochemical business headquartered in Japan, for a total amount of 250 billion yen. The deal attracted attention as one of the largest LBO acquisition transaction in Japan.
PwC Advisory and Zeirishi-Hojin PricewaterhouseCoopers, together with JP Morgan and Permira Ireland, acted as the buyside advisors. One of the reasons for being awarded the prize was that "under very difficult conditions, the deal tested investor commitment and ingenuity. The advisors coped well and changed the conditions of the deal to match the new, mid-credit crunch climate."
The awards were presented at a ceremony held in Roppongi Hills on May 27, 2008.