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Amarchand, P&A reprise Schneider connections with $115m Digilink takeover

Amarchand Mangaldas and P&A Law Offices have advised on the buy-out of Mumbai-based Smartlink Network’s cabling systems business Digilink by French company Schneider Electricals for Rs 503 crore ($115m).

P&A Law Offices led by managing partner Anand Pathak advised longstanding clients Schneider. The French electrical equipment manufacturer had last year also engaged P&A on its acquisition of Zicom.

Amarchand Mangaldas acted for the seller Smartlinks. The lead partners were S H Bhojani and Nivedita Rao with their respective teams in Mumbai. The firm had previously led for the bidders on another Schneider-involved acquisition of Areva T&D.

“Digilink had sales of around Rs 155 crore for the calendar year 2010, giving a valuation of a little over three times its revenues. The transaction involves transfer of Digilink brand and trademarks, the manufacturing facility in Goa, the distribution network and the employees related to the business,” reported VCCircle.

The transaction is subject to shareholders and regulatory approvals and satisfaction of conditions precedent.

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