Deal Street

August 31, 2017

Dsk Legal Advises Imc In $27.18 Million Usd Agreement


Larsen Toubro

It has been said that Larsen & Toubro (L&T) - an Indian multi-national conglomerate has signed a definitive agreement with IMC International Metalworking Companies BV (second largest company for metalworking products, owned by the Warren Buffett-led Berkshire Hathaway Inc.) for Rs 174 crore ($27.18 million USD).

Reportedly, L& T entered into the agreement for the divestment of its entire stake in L&T Cutting Tools (its unlisted and wholly owned subsidiary) to IMC.

The deal is expected to be completed within 90 days from the date of execution of the share sale and purchase agreement. L&T Cutting Tools, incorporated in 1952, manufactures fabricated metal products and had a net worth of Rs 41.4 crore as of March 2017.

DSK Legal partner Tushar Ajinkya and Chirag Jain, Aakriti Dubey and Prachi Gupta advised and assisted IMC International Metalworking Companies in the acquisition.

Link Legal partner, Manish Gupta, along with associate partner Alok Sonker and associate Keya Salot, advised and acted for Larsen & Toubro (L&T) and the company.

Related Post

latest News

  • INDIA AND MYANMAR SIGN 11 AGREEMENTS

    In a move to further strengthen multifaceted partnership, on September 6, India and Myanmar signed 11 agreements in a range of sectors, including one ...

    Read More
  • Advocacy Groups File Lawsuit Challenging Trump Administration Executive Order

    On February 6, Public Citizen (non-profit, liberal/progressive consumer rights advocacy group and think tank based in Washington D.C., US), the Natura...

    Read More
  • 41.2 lakh savings accounts shut for failing to maintain minimum balance: SBI

    State Bank of India (SBI) has closed as many as 41.16 lakh savings accounts between April-January in the current fiscal year for not maintaining the m...

    Read More