Shardul Amarchand Mangaldas advises JSW Group on the acquisition of 35% stake in Morris Garages Motor India Private Limited

February 7, 2024

Shardul Amarchand Mangaldas advised JSW Group (“JSW”) on acquisition of 35% stake in Morris Garages Motor India Private Limited (“MGI”) through a primary investment in MGI and secondary acquisition of shares from MGI’s promoter SAIC Motor (“SAIC”). The deal was signed on 30 November 2023 and the Competition Commission of India gave approval for the transaction on 23 January 2024.

 

The transaction is being led by Deepto Roy, Partner; Dnyanraj Desai, Partner; Disha Adhikary, Senior Associate; Annapoorani Ramu, Associate; Vaibhav Gwalani, Associate; Charana Reddy, Associate; and Aakaansha Arya, Associate. Additional resources includes Nainesh Singh, Senior Associate; Anshuman Singh, Senior Associate; and Sanidhya Parashar, Associate.

 

The competition law team is led by Gauri Chhabra, Partner; Aakriti Thakur, Senior Associate; and Ujwala Kishore Adikey, Associate.

 

The IP team is led by Mukul Baveja, Partner and Prakriti Sharma, Senior Associate.

 

The Banking & Finance team is led by Veena Sivaramakrishnan, Partner and Mohit Bhatia, Partner.

 

The Funds team is led by Jay Gandhi, Partner and Gaurita Udiyawar, Partner.

 

Ernst and Young LLP, India advised JSW Group on the investment banking, tax and financial advisory aspects, respectively.

 

Herbert Smith Freehills advised on international aspects led by partners Siddhartha Shukla and Calvin Ho.

 

Orrick, Herrington & Sutcliffe; and FEV Europe GMBH advised JSW Group as international counsel and on technical aspects, respectively.

 

AZB & Partners and Price Waterhouse Coopers advised MGI and SAIC on the Indian legal and tax aspects, respectively.

 

Landing Law Offices advised MGI and SAIC on the Chinese legal aspects.