Siemens Limited sells low-voltage and geared motors businesses to Innomotics India Private Limited for INR 2,200 crore

Khaitan & Co acted for Siemens Limited in relation to the sale and transfer of its low-voltage motors and geared motors businesses to Innomotics India Private Limited. The transaction involved the sale and transfer of Siemens Limited’s low-voltage motors and geared motors businesses, including the related customer service operations, to Innomotics India Private Limited, a global provider of electric motors and large drive systems. The businesses were transferred as a going concern by way of a slump sale for an enterprise value of INR 2,200 crore on a cash-free, debt-free basis, subject to mutually agreed adjustments. Khaitan & Co represented client Siemens Limited with a team composed by: Niren Patel (Partner) who led the core transaction team; Arindam Ghosh (Partner); Shashank Patil (Counsel); Aman Bagaria (Senior Associate); and Vinita Jagtiani (Associate). The firm’s assistance additionally included specialist support on employment law from Anshul Prakash (Partner) and Abhisek Choudhury (Principal Associate); on competition law from Anshuman Sakle (Partner), Anisha Chand (Partner), Tanveer Verma (Principal Associate), Yatharth Vardhan Singh (Senior Associate) and Shubhanshu Jain (Associate); on direct tax from Rahul Jain (Partner); and on warranties and indemnities insurance from Harsh Khemka (Partner). The firm advised Siemens Limited on the entire transaction, including transaction structuring; preparation, negotiation and finalisation of the slump sale agreement and other transaction documents; and regulatory and listed company matters.

Siemens Limited sells low-voltage and geared motors businesses to Innomotics India Private Limited for INR 2,200 crore

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