Khaitan & Co advises Siemens on ₹2,200 crore sale and transfer of motors businesses to Innomotics India

Khaitan & Co advised Siemens Limited on the sale and transfer of its low-voltage motors and geared motors businesses, including related customer service operations, to Innomotics India Private Limited. The transaction was effected as a slump sale of the businesses as a going concern for an enterprise value of ₹2,200 crore on a cash-free, debt-free basis. The disposal comprises Siemens Limited’s low-voltage motors and geared motors businesses together with the associated customer service operations. Khaitan & Co advised 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 aspects. Innomotics India is a private subsidiary of the global Innomotics group, which specialises in electric motors and large drive systems. Khaitan & Co represented Siemens Limited with a team composed by: Niren Patel (Partner, lead of the core transaction team); Arindam Ghosh (Partner); Shashank Patil (Counsel); Aman Bagaria (Senior Associate); and Vinita Jagtiani (Associate), with specialist assistance on employment law aspects by Anshul Prakash (Partner) and Abhisek Choudhury (Principal Associate); on competition law aspects by Anshuman Sakle (Partner), Anisha Chand (Partner), Tanveer Verma (Principal Associate), Yatharth Vardhan Singh (Senior Associate) and Shubhanshu Jain (Associate); on direct tax aspects by Rahul Jain (Partner); and on warranties and indemnities (W&I) insurance aspects by Harsh Khemka (Partner).

Khaitan & Co advises Siemens on ₹2,200 crore sale and transfer of motors businesses to Innomotics India

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