SAM acts for Japan’s Kubota on $438m India JV with CAM’s Escorts (Mar 20)

New Delhi: Engineering conglomerate Escorts … said Japan’s Kubota Corporation will acquire 10% equity stake engineering in the firm for Rs 1042 crore. Upon completion of this transaction, Escorts and Kubota will partner and aim to become a leading player in the Indian market and a hub of product development, manufacturing and sourcing for global markets.

— The Economic Times

Shardul Amarchand Mangaldas & Co advised Kubota Corporation, led by a team of executive chairmanShardul Shroff, who provided key strategic inputs and guidance in relation to the transaction. The transaction team was led by partnerRudra Kumar Pandey, principal associateAmanjot Malhi, senior associateSrinivas Anirudh and associateSanyukta Sowani. Various other teams contributed to this deal including the competition law team with partnerAparna Mehra, partnerRohan Arora, senior associateRitwik Bhattacharya, associateAbhiruchi Jhawar, associateKshitij Sharma, and associateAnjali Kumar and the taxation team with partnerAmit Singhania, principal associateRahul Yadav and senior associateSuyash Sinha. The due diligence team was led by partnerRudra Kumar Pandey, principal associateSandeep Sharma, senior associateVishal Nijhawan, associateSanyukta Sowani and associateRicha Vatsa and they were assisted real estate partnerMrinal Kumar, principal associateShrutikirti Kumar, associateIndira Shankar Reddy and associateKaruna Sharma; labour & employment partnerPooja Ramchandani, and associateAnjuli Marwah; litigation partnerAashish Gupta, associateNeha Sharma and associateAmogh Srivastava.

Japan-based law firm Mori Hamada Matsumoto with Barclays and Deloitte acted respectively as the legal, financial and tax advisors to Kubota.

Cyril Amarchand Mangaldas, with JM Financial and Transaction Square were advisors to Escorts Limited and the promoters including, Nikhil Nanda.

2020-03-20

Deal value: USD 438 million

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