Toyota Tsusho Corp. (TSE:8015) agreed to acquire 39.9% stake in Scholz AG from Scholz family on April 9, 2014. The majority shareholding of Scholz AG will stay with the Scholz family who will hold 60.1% in Scholz AG. Scholz AG had revenue of €3.74 billion and total assets of €1.52 billion. It has been agreed that Toyota Tsusho will send representatives to Scholz AG's Board of Directors. The Chief Executive Officer position will remain unchanged and will be held by Oliver Scholz. The deal is subject to continued support of Scholz AG's existing financing partners, relevant anti-trust and merger control clearances in relevant jurisdictions. The final negotiations of definitive agreements with the existing lenders of Scholz Group for continued support is still pending. The deal is expected to be closed still within the second quarter of 2014.

As of May 20, 2014, the transaction was approved by Turkish Competition Board, Also, as of June 12, 20014, the transaction was approved by European Commission. Frank Elsner of Frank Elsner Kommunikation für Unternehmen GmbH acted as PR advisor to Scholz AG. Alexander von Bergwelt, Cornelia Marquardt, Oliver Sutter, Daniel Wellington, Steven Suzzan, Florian Breitreiner, Matthias Nordmann, Leonie Arendt, Stephanie Schuster, Philipp Günther, Markus Schmid, Raphael Suh, Julia Schomaker, Nadine Bourgeois, Michael Heim, Oliver Paasch, Frank Bayer, Alina Bresler and Daniela Loy of Norton Rose Fulbright LLP acted as legal advisors to Toyota Tsusho Corp. Annette Schmitt, Thomas Dorbert and Lars Mahler of KPMG FAS Co., Ltd. acted as financial advisors to Toyota Tsusho Corp. Jan Bauer and Jochen Tyrolt of Gleiss Lutz acted as legal advisors to Scholz AG. Till Hafner of Wellensiek Rechtsanwälte acted as legal advisor to Scholz family. Andreas Ziegenhagen, Detlef Spranger, Judith Specht and Jakob Pickartz of Dentons GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft acted as legal advisors for Scholz.