Media & Events
Shardul Amarchand Mangaldas advises VE Commercial Vehicles Limited in its acquisition of the Volvo bus business of Volvo Group India Private Limited
August 15, 2020
Shardul Amarchand Mangaldas & Co advised VE Commercial Vehicles Limited (a joint venture between Eicher Motors Limited (EML) and Volvo Group; and an unlisted material subsidiary of EML) in relation to acquisition of the Volvo bus business of Volvo Group India Private Limited, on slump sale basis. The deal was signed on August 12, 2020 and is expected to close in 1-2 months, subject to completion of conditions precedent.
The transaction involves transfer of the Volvo bus business in India, including VGIPL’s manufacturing facility at Hoskote, Bengaluru, for the manufacture, assembly, distribution and sale of Volvo buses in India and other rights forming part of the business, into a newly formed bus division within VECV. With this transaction, VECV’s presence in the Indian bus market with Eicher branded buses will be further strengthened by addition of Volvo buses.
The transaction team was led by Mr. Inder Mohan Singh, Partner; Ms. Sadia Khan, Partner; Mr. Ankit Goel, Senior Associate; and Ms. Sargam Marwaha, Associate.
JSA acted as the legal counsel for VGIPL.
