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Mahindras buy green car maker REVA powered by Khaitan & Co, Trilegal

Reva
Reva

Khaitan & Co has advised India's largest utility vehicle maker in acquiring Bangalore electric car manufacturer REVA Electric Car Company, which was advised by Trilegal.

Khaitan & Co advised Mahindra & Mahindra (M&M), with Mumbai partners Ravi Kulkarni, Nikhilesh Panchal and Joy Jacob representing the car maker.

Trilegal Bangalore partner Rahul Matthan advised REVA. Along with a senior associate, Harshitha Thammaiah.

Matthan said: "Reva is a technology driven company and they were very clear that they needed a law firm that could, over and above the M&A aspects of the transaction, protect their interests on IP and technology as well. Our technology expertise is well known and I understand that this is why we were selected."

M&M acquired a 55 per cent stake in REVA, which manufactures electric cars, for an undisclosed amount.

REVA is promoted by the previous majority shareholders of the Maini family, which will hold 31 per cent of the company after divesting part of its stake to M&M through an equity purchase and capital infusion into the company of 45 crore by M&M.

The deal was announced yesterday.

Photo by RevaNorge

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