June 2, 2023
SAM & Co advised Blackstone Inc. (“Blackstone / Buyer”) in relation to obtaining the Competition Commission of India (“CCI”)’s green channel approval for its acquisition of a majority stake in the target business of Emerson Electric Co and the proposed co-investment by an affiliate of funds advised and managed by affiliates of the Abu Dhabi Investment Authority (ADIA) and a special purpose vehicle wholly owned by GIC Ventures Private Limited (GIC) in the Buyer, by way of a direct or indirect investment in the Buyer. The deal was valued at USD 14 billion. The CCI approved the transaction on 21 April 2023.
The deal is one of the most prominent investments in the climate technologies sector.
The competition law team for Blackstone was led by Gauri Chhabra, Partner; Gargi Yadav, Consultant; Saumya Raizada, Senior Associate; Eesha Sheth, Associate; and Ashlesha Singhal, Associate. Nimish Malpani, Senior Associate assisted from a tax law aspect.
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