Skip to main content
news
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.

 

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

Related Articles

9 firms advise on milestone $8.2 bln cross-border insurance deal

by Sarah Wong |

Global law firms Debevoise & Plimpton, Kirkland & Ellis and Herbert Smith Freehills are acting for Bermuda-based insurer Resolution Life on its $8.2 billion sale to Japan’s Nippon Life Insurance, the largest overseas acquisition by a Japanese insurer to date.

Top international firms act on landmark $7.1 bln ESR take-private deal

by Nimitt Dixit |

Global law firms Freshfields, Latham & Watkins, Kirkland & Ellis, Paul, Weiss, Rifkind, Wharton & Garrison and Cleary Gottlieb Steen & Hamilton have steered an offer to take the Hong Kong-listed ESR Group private in a deal valued at $7.1 billion.

Fangda, KWM act on HKAA’s $592 mln acquisition of Zhuhai Airport stake

Fangda Partners has advised the Hong Kong Airport Authority (HKAA) on its agreement to purchase a 35 percent stake in Zhuhai Airport for approximately $592 million, with King & Wood Mallesons representing the seller, Zhuhai Transportation.