New Delhi, Feb 24 (ANI-NewsVoir): Shardul Amarchand Mangaldas and Co (SAM and Co) acted as the legal advisor to JK Tyre regarding CCI approval for the Rs. 2195 Cr acquisition of the tyre manufacturing plant of Birla Tyres, located at Laksar, Haridwar. The transaction involved filing of a detailed Form II and has been unconditionally approved by the CCI end of last week.
The transaction is unique as KIL is selling only one of its tyre manufacturing plants to a competitor i.e. JK Tyre. The proposed transaction involved competition assessment of multiple markets including some where parties’ market shares were considerable.
The SAM and Co team was led by Aparna Mehra, Partner, and involved Vivek Agarwal, Senior Associate, Karan Latayan, Associate, and Supritha Prodaturi, Associate.
The parties involved in the transaction were JK Tyre and Industries Limited, and J.K. Asia Pacific (S) Pte Ltd. (Our Client – Acquirer), Cavendish Industries Limited (Target Company) and Kesoram Industries Limited (Seller). (ANI-NewsVoir)