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TTA, Links advise Whirlpool on $23.6m buy of Elica PB, with DSK, NDA, Sabelli Benazzo

Consumer durables major, Whirlpool India has announced the acquisition of 49% stake in Elica PB India, subsidiary of Elica SpA Italy for an estimated Rs 162 crores ($23.6m) in an all cash deal, as reported by The Economic Times and Mint. The deal is expected to close in the second half of 2018 and as a part of a strategic joint-venture, Elica PB India will manufacture and distribute cooking and built-in appliances under the Whirlpool brand in India.

Talwar Thakore & Associates acted as the Indian legal counsel to Whirlpool and was led by competition practice executive chairman Vinod Dhall, partner Kunal Thakore, counsel Ram Kumar, managing ssociates Deepa Christopher and Mrinali Kaul along with associates Lipi Rawat, Shubhang Joshi and Toshit Shandilya.

Linklaters acted as the international legal advisor to Whirlpool Corporation in the transaction.

DSK Legal represented as the Indian legal advisor to Elica PB India, led by a team comprised of partner Ajay Shaw, principal associate Gaurav Mistry and senior associate Akanksha Tiwary.

Nishith Desai Associates acted as the Indian legal counsel to Elica S.p.A. Italy , led by leader Simone Reis – and member Joachim Saldanha. Italy-based firm Sabelli Benazzo was the international legal advisor.

Operating in India since 2010, Elica PB India makes kitchen hoods, built-in hobs and cooktops. The current acquisition is a part of Whirlpool’s strategy to strengthen its presence in the cooking and built-in appliance segment.

2018-06-01

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