J Sagar Associates (JSA), AZB & Partners and Japanese law firm Anderson Mori & Tomotsune have advised on Indian stationery maker Camlin’s majority stake buy-out by Japanese counterpart Kokuyo for Rs 186 crore.

JSA Mumbai partners Nitin Potdar and Rinku Bhiwandkar led the team for Camlin and its promoters along with associates Neha Bhatia and Abhilash Chandran.

AZB & Partners and Anderson Mori & Tomotsune advised respectively on domestic and Japanese laws to the buyer Kokuyo, which is a leading Japanese manufacturer of furniture and stationery products.

AZB was represented by partner Alka Nalavadi and associate Roxanne Anderson while Anderson Mori & Tomotsune’s team consisted of partner Hiroki Kodate and associates Ryo Kotoura and Ryo Okochi.

Including an open offer, Kokuyo’s total investment will amount to a total of Rs 366 crore.

Potdar told Legally India: “This is a classic joint venture involving two highly respectable brands in complimentary products.”

He added that structuring a deal for the Indian company and the promoters who were in the business for four generations was a little delicate and also challenging.

“We now have almost all major Japanese companies operating in India and I am sure others would follow. However, I wish the regulatory frame work for FDI particularly for listed companies are made more investor friendly. Today closing commercial negotiations is easier than closing legal documents,” he said.

According to Mint the deal was valued at twice the company’s 2010 sales, and 27 times earnings before interest, tax, depreciation and amortisation.

Photo by Jenna Carver