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JSA acts for Ahmedabad’s Symphony air coolers to buy Australia’s Climate Technologies for $29m+

“Symphony Ltd, one of the country’s leading air-cooler manufacturers, on Friday announced that it aims to acquire Australia’s Climate Technologies Pty Limited. The Ahmedabad-based company has signed an agreement to buy 95% equity stake in Climate Technologies, Australia’s leading manufacturer of cooling and heating appliances, it said,” reported Mint.

J Sagar Associates (JSA) acted for Symphony led by partner Bijal Chhatrapati and associate Tabish Samdani.

Australian firm Minter Ellison acted as foreign counsel to Symphony.

Clarendon Lawyers acted as foreign counsel to Climate Technologies and its shareholders.

“The acquisition will be executed at a valuation range of AUD (Australian dollar) 40-44 million (₹201-221 crore) depending on the achievement of FY18 Ebitda (June end),” the companies said, according to Mint.


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