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JSA buys Sweden’s Volvo full control of Volvo Buses India from Jaico

J Sagar Associates’ (JSA) Bangalore office has advised Volvo Bus Corporation in the buy-out of a 30 per cent stake of its Indian joint venture from partner Jaico Automobile Engineering, which hired AKS Law Associates.

JSA partner Vivek K Chandy, who had joined JSA in July 2009 after merging his start-up firm M&C Partners, acted on the transaction along with senior associate Mary Julie John.

Jaico was represented by Bangalore-based AKS Law Associates senior partner Ajesh Kumar.

The acquisition would result in Swedish company Volvo’s full ownership of subsidiary Volvo Buses India, which was started in 2006 as a joint venture with Azad Group’s Jaico Automobile Engineering Company Private Limited.

Earlier the company held a majority stake of 70 per cent while its Indian counterpart owned 30 per cent. The transaction aims to expand Volvo’s manufacturing activities in India and an increase in revenues.

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