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.
Mahindras buy green car maker REVA powered by Khaitan & Co, Trilegal
Photo by RevaNorge
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Quite a contrast to the other firm reported which is gracious in acknowledging associates' contribution.
Hmm..........
i think it's bcoz of the difference in their business cultures. khaitan is a family-run firm, whereas trilegal is more democratic and was set up by young law grads.
here's the other prob with khaitan: they are owned by a very wealthy family of the already prosperous marwari community in calcutta. yet, they choose to operate from a crumbling old building in calcutta bcoz they pay rent at pre-world war rates, according to the lease agreement... that about sums up the firm's atittude for me!!
#3 I don't think Khaitan is owned by Khaitan family. As much as I know, its the only firm which has an all equity partnership model. I did not follow the link between state of the building and the deal reporting
N Khaitan the firm simply [...] in Kolkata!
Mumbai Rocks anytime!
Besides I really don't get how your comment relates to this article. If you have anger issues because of end number of reasons, just to remind you: this is not the forum.
Besides, generally in every deal many play a huge role, does not mean everyone's name needs to be mentioned wherever the deal is reported.
Kian, can you throw some light on this?
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