Deal Street

January 29, 2020

S&R Associates advise C&S Electric in sale of shares to Siemens


[ by Legal Era News Network ]

S&R Associates Logo

S&R Associates represented C&S Electric Limited, a leading manufacturer of electrical and electronic equipment and its promoter shareholders on the sale of approximately 99% of equity shares to Siemens Limited, a public listed company, for approximately Rs. 21 billion.

Siemens Ltd. has signed an agreement to acquire New Delhi-based C&S Electric Limited. The scope of the acquisition comprises the Indian operations of C&S Electric’s low-voltage switchgear components and panels, low and medium voltage power busbars as well as protection and metering devices businesses.

C&S Electric Ltd. is amongst the leading suppliers of electrical equipment in India and is India's largest exporter of industrial switchgear. C&S Electric has more than 50 years of experience in India and will continue to operate under its own brand name.

The combination of the portfolios of the two companies will enhance Siemens position in the business, enabling it to better serve customers requiring electrification in areas including construction, industry, data centers, smart campuses and other city infrastructure.

The transaction is subject to closing conditions, including approval of the Competition Commission of India.

The S&R corporate team included partners Sanjeev Adlakha and Shivaji Bhattacharya and associates Tarinee Sudan, Meher Mehta, Neethu Roy, Addway Bandyopadhyay and Anurag Goswami. Simran Dhir, head of competition practice, and associates Dhruv Agarwal and Ishika Rout advised on competition law matters.

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