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Majmudar, Gagrats arrange $20m German auto parts-maker entry

Majmudar & Co has advised KS Gleitlager GmbH, which is part of German automobile company Kolbenschmidt Pierburg, in its Rs 87 crore ($19.5m) acquisition of a unit of Indian automotive parts maker Kirloskar Oil Engines.

Majmudar & Co partners Akhil Hirani, Rukshad Davar and Neerav Merchant led for KS Gleitlager, assisting on drafting, negotiating and executing the business transfer agreement. Gagrats partner Rustom Gagrat advised Kirloskar.

According to a Majmudar statement the deal included complex regulatory aspects including environmental law issues, and it would help the German company to enter India’s automotive sector and expand its reach on the subcontinent.

The Indian company’s bearings-making unit of the company would be sold cash and debt-free on a slump sale basis for a lump sum consideration, according to India Infoline.

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