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SAM, AZB, HSA on $325m Tata Power defence biz sale to Tata Advance Sys

“Tata Power, India’s largest integrated power company, today announced that its board has approved the sale of its defence business to Tata Advance Systems Ltd, a wholly owned subsidiary of Tata Sons at an enterprise value of Rs2,230 crore,” Mint reported in March.

“As a part of the transaction, Tata Advanced Systems would acquire 100 percent of the share capital of TAL Manufacturing Solutions and Tata Advanced Materials from Tata Motors and Tata Industries,” according to a press release from Shardul Amarchand Mangaldas.

Shardul Amarchand Mangaldas managing partner Akshay Chudasama, partners Anuj Prasad and Arka Banerjee, principal associate Anandita Kaushik, senior associates Ankit Mishra and Aditi Tralshawala and associates Payal Chhabria, Taruna Dhingra and Aditya Kumar Ayachit acted for Tata Advanced Systems with assistance from partners Shweta Shroff Chopra and Aparna Mehra, principal associate Vivek Agarwal, senior associate Ritwik Bhattacharya and associate Gayatri Pradhan on competition law aspects and partner Meghna Rajadhyaksha and associates Umang Singh and Pulkitesh Tiwari on NCLT process.

AZB & Partners partner Ashwin Ramanathan acted for Tata Motors, with partner Rushabh Maniar and lawyers Puneet Parihar, Himanshoo Tembe, Rounak Agarwal.

HSA Advocates partners Aninda Pal and Kunal Rajpal acted for Tata Power Company.


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