Citizen Watch makes acquisition in Swiss watch industry

On March 5, 2012, Citizen Watch Co., Ltd., Tokyo and the shareholders of Prothor Holding SA, La Chaux-de-Fonds entered into a transaction agreement regarding the sale of all the shares of Prothor Holding SA, the holding company of Manufacture La Joux-Perret SA, a leading manufacturer of mechanical movements and components for the watch industry, and of Arnold & Son, a high end watch brand. The closing of the transaction is expected to occur on April 2, 2012.

Lenz & Staehelin advises Citizen Watch in this transaction as Swiss legal counsel. The team includes Rudolf Tschäni (Partner, lead), Stefan Scherrer and Hélène Weidmann (both corporate) and Peter Ling (IP).