Shardul Amarchand Mangaldas advises JICC-01 Limited Partnership, Hitachi Astemo, Ltd., Honda Motor Co., Ltd. and Hitachi Astemo Electric Motor Systems in relation to procuring the CCI approval of their transaction filed by way of a Form I notification form

October 20, 2023

Shardul Amarchand Mangaldas advised JICC-01 Limited Partnership (“JICC”), Hitachi Astemo, Ltd. (“HAL”), Honda Motor Co., Ltd. (“HMCL”) and Hitachi Astemo Electric Motor Systems (“HAEMS”) in relation to procuring the CCI’s approval, filed by way of a Form I notification form.

The transaction comprised the acquisition of:

• 20% voting rights in HAL by JICC, together with certain control rights, board representation and other rights;
• additional 6.6% voting rights in HAL by HMCL, such that 40% of the voting rights in HAL would be held by HMCL; and
• 49% shareholding in HAEMS by HAL, such that 100% of the shareholding of HAEMS is held by HAL.

The transaction is valued approximately INR 18,856 crores. Further, the transaction closed on 17 October 2023.

The Competition team was led by Shweta Shroff Chopra, Partner; Gauri Chhabra, Partner together with Gargi Yadav, Consultant, Saumya Raizada, Senior Associate, Ujwala Kishore, Associate and Anjana Ravikumar, Associate.

Pallavi Shroff, Managing Partner, for her continued guidance and assistance in procuring an expedited approval to meet the client’s closing timelines.