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DMD, L&L act on $8.5m completion of Greaves Cotton buyout of Ampere Vehicles

Engineering firm Greaves Cotton Ltd on Thursday said it has increased its stake in Coimbatore-based Ampere Vehicles making the completion of the acquisition. Greaves Cotton announced the completion of the acquisition of entire shareholding of Ampere Vehicles CEO, Hemalatha Annamalai through secondary purchase thereby taking absolute control in Ampere Vehicles, a company statement said.
The Economic Times

In 2018 the company had first picked up a 67.34 per cent stake in Ampere Vehicles for Rs 77 crore, with the latest transaction marking the completion of the deal.

DMD Advocates advised Greaves Cotton Limited led by senior partner Rashi Dhir, who was responsible for overseeing the deal, with the transaction was led by partner Sumit Sinha with senior associate Ashima Dewan and associate Sukanya Bhattacharya.

L&L Partners partner William Vivian John, managing associate Sumithra Suresh and associate Shreya Kundu also advised.


Deal value: INR 60 crores

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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