An employee assembles different parts onto a car panel at the manufacturing plant of Maruti Suzuki in Manesar, in the northern state of Haryana, India, September 26, 2023. REUTERS/Anushree Fadnavis


Indian law firm Saraf and Partners has advised Maruti Suzuki India Limited (MSIL) on its $1.5 billion acquisition of Suzuki Motor Gujarat (SMG) from Japan's Suzuki Motor Corporation, which was represented by Shardul Amarchand Mangaldas and Nagashima Ohno & Tsunematsu.

MSIL will acquire 100 percent shareholding in SMG by way of preferential issuance of equity shares of MSIL to SMC. The share issue will raise Suzuki's stake in Maruti to 58.19 percent from the existing 56.48 percent, roughly in line with the company's estimate in August, Reuters reported.

The deal includes the transfer of ownership in a Gujarat-based manufacturing plant to MSIL, India's top carmaker by sales, which will significantly increase MSIL's automobile production capacity in the country.

The Saraf team that advised MSIL on the transaction was led by senior partner Vaibhav Kakkar and partner Snigdhaneel Satpathy.

Saraf has been part of the legal advisory team on many of India's top deals in 2023, including global healthcare company Viatris' $1.2 billion API disinvestment in October.



Related Articles

KPMG Hong Kong law firm founder heads to CRS

by Nimitt Dixit |

UK law firm Charles Russell Speechlys has hired a team of four attorneys from SF Lawyers, KPMG’s law firm in Hong Kong, led by the firm’s founder and managing partner, Shirley Fu.

Haiwen, CC advise on China TCM's $2 bln take-private deal

Sinopharm Group, an investment consortium led by Sinopharm Group, and China Traditional Chinese Medicine Holdings (China TCM) recently announced a take-private deal for the Hong Kong-listed China TCM through a scheme of arrangement.

Japan’s TMI establishes 2nd Malaysia alliance, sets up new office

by Mari Iwata |

Major Japanese law firm TMI Associates has entered into an alliance with Malaysian law firm SY Teo & Co, set up by Sze Yi Teo, an associate in TMI’s Singapore office. The alliance will also establish an office in Kuala Lumpur under the name of SY Teo & Co in Association with TMI Associates.