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Shardul Amarchand, JSA, Khaitan act on Rs 2,000 cr Temasek Avantha buy

J Sagar Associates (JSA) and Khaitan & Co advised Advent International Corporation and Temasek Holdings on their Rs 2,000 crore ($311m) buy of Crompton Greaves’ consumer electrical business from Avantha Holdings which was advised by Amarchand Mangaldas’ Delhi office.

JSA partners Somasekhar Sundaresan, Vikram Raghani, Manisha Kumar and Gautam Gandotra, senior associates Neha Varma and Bir Bahadur Sachar and associates Upamanyu Talukdar and Sujay Athani, and Khaitan partners Haigreve Khaitan, Aakash Choubey, Niren Patel, Arindam Ghosh, Avaantika Kakkar and Adheesh Nargolkar, associate partner Ashwin Bishnoi and executive director Daksha Baxi acted for Advent and Temasek.

Amarchand Delhi managing partner Shardul Shroff, partners Gunjan Shah and Naval Chopra and associates Shruti Kanodia and Divya Sharma acted for Avantha.

Avantha’s stake comprises 34.37 per cent in Crompton Greaves Consumer Electricals, according to the firms’ press releases.

Temasek, which teamed up with Advent at the last minute and will be a junior partner in the acquisition, is for the first time investing in a buyout in India through this deal, reported the Economic Times.

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