Hitachi Chemical Co. Ltd. (TSE:4217) agreed to acquire 51% stake in FIAMM Energy Technology S.p.A. for €87 million on November 28, 2016. As of December 31, 2015, Fiamm Batterie S.r.l. reported total assets of €49.9 million, total revenues of €425.8 million, total common equity of €49.9 million and net income of €8.3 million. The Board of FIAMM S.P.A approved the agreement. The deal is expected to close in February 2017. European commission approve the transaction on January 23, 2017. Umberto Nicodano, Stefania Lucchetti and Raissa Iussig of Bonelli Erede Pappalardo Studio Legale along with Mori Hamada & Matsumoto LPC acted as legal advisors to Hitachi Chemical Co. Ltd. (TSE:4217). Gabriella Covino, Dario Pozzi, Lavinia Bertini, Piero Fattori and Matteo Padellaro of Gianni Origoni Grippo & Partners acted as legal advisors whereas, Goldman Sachs S.I.M. S.p.A. acted as financial advisor of FIAMM S.p.A. Hitachi Chemical Co. Ltd. (TSE:4217) completed the acquisition of 51% stake in FIAMM Energy Technology S.p.A. on January 23, 2017.