New Delhi: Engineering conglomerate Escorts … said Japan’s Kubota Corporation will acquire 10% equity stake engineering in the firm for Rs 1042 crore. Upon completion of this transaction, Escorts and Kubota will partner and aim to become a leading player in the Indian market and a hub of product development, manufacturing and sourcing for global markets.

— The Economic Times

Shardul Amarchand Mangaldas & Co advised Kubota Corporation, led by a team of executive chairman Shardul Shroff, who provided key strategic inputs and guidance in relation to the transaction. The transaction team was led by partner Rudra Kumar Pandey, principal associate Amanjot Malhi, senior associate Srinivas Anirudh and associate Sanyukta Sowani. Various other teams contributed to this deal including the competition law team with partner Aparna Mehra, partner Rohan Arora, senior associate Ritwik Bhattacharya, associate Abhiruchi Jhawar, associate Kshitij Sharma, and associate Anjali Kumar and the taxation team with partner Amit Singhania, principal associate Rahul Yadav and senior associate Suyash Sinha. The due diligence team was led by partner Rudra Kumar Pandey, principal associate Sandeep Sharma, senior associate Vishal Nijhawan, associate Sanyukta Sowani and associate Richa Vatsa and they were assisted real estate partner Mrinal Kumar, principal associate Shrutikirti Kumar, associate Indira Shankar Reddy and associate Karuna Sharma; labour & employment partner Pooja Ramchandani, and associate Anjuli Marwah; litigation partner Aashish Gupta, associate Neha Sharma and associate Amogh Srivastava.

Japan-based law firm Mori Hamada Matsumoto with Barclays and Deloitte acted respectively as the legal, financial and tax advisors to Kubota.

Cyril Amarchand Mangaldas, with JM Financial and Transaction Square were advisors to Escorts Limited and the promoters including, Nikhil Nanda.

2020-03-20

Deal value: USD 137 million (Rs 1032 crore), updated

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