Shardul Amarchand advised ZF Friedrichshafen AG and ZF International UK Limited to disinvest ZF UK’s 49% equity shareholding in Brakes India Private Limited

July 19, 2021

Shardul Amarchand Mangaldas & Co. advised ZF Friedrichshafen AG (“ZF AG”) and ZF International UK Limited (“ZF UK”) to disinvest ZF UK’s 49% equity shareholding in Brakes India Private Limited to T.V. Sundram Iyengar and Sons Private Limited (“TVS”), Impal Motor Parts and Accessories Limited, Flometallic India Private Limited and Sundaram Financial Holdings Limited, pursuant to CCI’s direction. The date of closing was 22 June 2021.

The competition team was led by Aparna Mehra, Partner; Ritwik Bhattacharya, Principal Associate; Rahul Shukla, Senior Associate; Abhiruchi Jhawar, Associate; and Kshitij Sharma, Associate. Pallavi Shroff, Managing Partner, provided strategic advice on the deal. The transaction team was led by Raghubir Menon, Partner; Anirban Bhattacharya, Partner; Tanmayee Chaulkar, Senior Associate; Pranav Sethi, Associate; and Akshita Singal, Associate. The litigation team was led by Aashish Gupta, Partner; Arjun Pall, Principal Associate; Rakshit Jha, Associate; and Alind Chopra, Associate. Tax Team was led by Amit Singhania, Partner; Gouri Puri, Partner; and Rajat Bose, Partner; Nimish Malpani, Associate; and Neeladri Chakrabarti, Consultant. Projects and Projects Finance Team was led by Deepto Roy, Partner; Dnyanraj Desai, Principal Associate; and Mayank Bhardwaj, Senior Associate.

Latham and Watkins and Citibank advised ZF UK and ZF AG on foreign law aspect and financial aspect, respectively. JSA and CAM Competition team advised TVS, Impal Motor Parts and Accessories Limited, Flometallic India Private Limited and Sundaram Financial Holdings Limited on legal aspect. Transaction Square advised TVS, Impal Motor Parts and Accessories Limited, Flometallic India Private Limited and Sundaram Financial Holdings Limited on financial aspect.