Shardul Amarchand Mangaldas & Co advises Kubota Corporation, Japan in its acquisition of a minority stake in Escorts Limited

April 2, 2020

Shardul Amarchand Mangaldas & Co advised Kubota Corporation, Japan in an acquisition of 9.09% of the equity stake in Escorts Limited for approx. INR 1,042 Crores and subsequent sale of 40% of the equity stake in KAI to Escorts Limited. The deal was signed on March 20, 2020.

This investment is Kubota Corporation’s first investment in a listed company in India.

Mr. Shardul Shroff, Executive Chairman, provided key strategic inputs and guidance in relation to the transaction. The Transaction Team was led by Rudra Kumar Pandey, Partner, Amanjot Malhi, Principal Associate, Srinivas Anirudh, Senior Associate and Sanyukta Sowani, Associate.

Various other teams contributed to this deal including Competition Law Team: Aparna Mehra, Partner, Rohan Arora, Partner, Ritwik Bhattacharya, Senior Associate, Abhiruchi Jhawar, Associate, Kshitij Sharma, Associate, and Anjali Kumar, Associate and Taxation Team: Amit Singhania, Partner, Rahul Yadav, Principal Associate and Suyash Sinha, Senior Associate.

The Due Diligence Team was led by Rudra Kumar Pandey, Partner, Sandeep Sharma, Principal Associate, Vishal Nijhawan, Senior Associate, Sanyukta Sowani, Associate and Richa Vatsa, Associate and assisted by the following practice teams : Real Estate: Mrinal Kumar, Partner, Shrutikirti Kumar, Principal Associate, Indira Shankar Reddy, Associate and Karuna Sharma, Associate. Labour & Employment: Pooja Ramchandani, Partner, and Anjuli Marwah, Associate. Litigation : Aashish Gupta, Partner, Neha Sharma, Associate and Amogh Srivastava, Associate. Trust: Divi Dutta, Partner and Vrinda Pareek, Associate. SEBI Regulatory : Yogesh Chande, Partner; and Kanwardeep Kapany, Senior Associate. Special advice on the SEBI laws was provided by Prashant Saran, Senior Consultant.

Mori Hamada Matsumoto, Barclays, Japan and Deloitte acted as the legal, financial and tax advisors, respectively, to Kubota. Cyril Amarchand Mangaldas, JM Financial and Transaction Square were advisors to Escorts Limited and the promoters including, Mr. Nikhil Nanda.