Global law firm White & Case LLP has advised Zetes Industries SA on the sale by its key shareholders, Cobepa and Zephir Corporation, of a controlling participation in Zetes to Panasonic Group.

The transaction was signed in Brussels on December 22, 2016. Brussels-based White & Case partner Thierry Bosly, who co-led the Firm's deal team, said: "We successfully supported a complex and challenging deal which represents the further development of our Belgium-listed client Zetes."

Zetes, a Belgian company listed on Euronext Brussels, is the European leader in design, development and implementation of integrated automatic identification solutions for goods and people.

White & Case advised Zetes on the transfer of a controlling participation (50.95 percent) to Panasonic, which will become the majority shareholder upon closing and be required to launch a mandatory tender offer on all remaining Zetes shares.

The White & Case team in Brussels which advised on the transaction was led by partner Thierry Bosly and local partner Muriel Alhadeff, with support from local partner Jérémie Jourdan and associates Tom Matthijs, Thomas Glauden and Audrey Oh.