Khaitan & Co Advised Mahindra & Mahindra Limited On The Strategic Acquisition Of A 58.96% Stake In SML Isuzu Limited
Khaitan & Co advised Mahindra & Mahindra Limited on the strategic acquisition of a 58.96% stake in SML Isuzu Limited
Khaitan & Co advised Mahindra & Mahindra Limited on its strategic acquisition of a 58.96% stake in SML Isuzu Limited. The acquisition involved the purchase of a 43.96% stake from Sumitomo Corporation and a 15% stake from Isuzu Motors Limited.
Following this acquisition, Mahindra & Mahindra Limited intends to become the promoter of SML Isuzu Limited and will proceed to undertake an open offer to the eligible public shareholders of SML Isuzu Limited in accordance with the SEBI Takeover Regulations.
The Khaitan & Co team was led by Haigreve Khaitan (Senior Partner), Ashraya Rao (Partner), Vidur Sinha (Partner), Kaushik Babu (Principal Associate), Ketan Jain (Associate), and Akhil Wilson Thomas (Associate), with Arindam Ghosh (Partner), Gaurav Malhotra (Counsel), Anvita Mishra (Counsel), and Vritika Lakhwani (Senior Associate) advising on the open offer aspects.
Further assistance was provided by Mehul Shah (Partner) and Sudhir Bassi (Executive Director) on structuring; Anshuman Sakle (Partner), Siddharth Pravin Bagul (Principal Associate), Yatharth Vardhan Singh (Senior Associate), Armaan Gupta (Senior Associate), and Shubhanshu Jain (Associate) on competition law; Sharad Abhyankar (Partner) on corporate governance; and Vanita Bhargava (Partner) and Vishal Shrivastava (Principal Associate) on environmental law.
Due diligence was supported by Sheldon Dsouza (Principal Associate), Hansaja Pandya (Senior Associate), and Rishika Jain (Associate) on corporate, litigation, and regulatory aspects; Smriti Yadav (Partner) and Sunaina Brahma (Principal Associate) on intellectual property; and Avnish Sharma (Partner) and Shivam Sachdeva (Senior Associate) on real estate.
Khaitan & Co acted as legal counsel to Mahindra & Mahindra Limited, providing end-to-end support including negotiation, drafting and review of transaction and open offer documents, legal due diligence, execution of documentation, support on the open offer process, and competition law approvals.
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