Veritas Legal Advised Creador in their Investment in Hinduja Tech
Hinduja Tech (HT), a mobility-focused global engineering R&D services company has announced the signing of a definitive agreement with Creador to invest $50 million (Rs 416 crore). Creador will acquire 19.6 percent shareholding in the company. The deal is subject to completion of customary closing conditions.
Hinduja Tech is a subsidiary of Ashok Leyland, the Indian flagship of the multi-billion dollar conglomerate the Hinduja Group.
Creador is a private equity firm focused on partnering to grow world-class businesses in Southeast Asia and India. Creador has infused approximately USD 50 million (INR 416 crore) to acquire 19.6% stake in Hinduja Tech.
Hinduja Tech will utilize the capital infusion to enhance its existing capabilities in R&D through organic and inorganic means, elevate its global footprint and expand its state-of-the-art labs to gain momentum in its journey towards emerging as a global leader in sustainable engineering mobility services.
According to Anish Kedia, Director, Credia, “Creador is excited to partner with the Hinduja Group and the entire team at Hinduja Tech for its next phase of growth. HT has established itself as a key player in the mobility ER&D industry with marquee customers across the globe. With its deep capabilities across engineering, powertrain and electronics, we believe HT is well poised towards creating sustainable and profitable solutions for the future of mobility.”
The Veritas Legal Team was led by Manav Raheja (Senior Partner) and Shubhangi Pathak (Partner). They were assisted by Aditya Thakore and Janhavi Rajkumar on transaction documents and diligence. The diligence team included Hiral, Hriday, Madhulika, Swasti, Trisha, Vanshika and Nishtha.
Cyril Amarchand Mangaldas acted for and advised Hinduja Tech Limited.