DSK Legal advised F. S. Fehrer Automotive GmbH, Germany (the “Seller”) in relation to its exit from Harita Fehrer Limited (“Company”) by way of sale of 49% (forty nine percent) shareholding to Minda Industries Limited (“Minda”). (“Transaction”). The Company was a joint venture between Harita Seating Systems Limited (“HSSL”) (amalgamated with Minda Industries Limited) and the Seller. Pursuant to the Transaction, the Company will become a wholly-owned subsidiary of Minda. The Company a leading manufacturer of seating systems in India and specializes in manufacture & supply of driver seats and bus passenger seats for commercial vehicles, tractors, off-road vehicles and buses.
DSK Legal assisted the Seller in inter alia: (i) reviewing the joint venture agreement executed between HSSL and the Seller (“JVA”) and drafting of notices and responses under the JVA; (ii) drafting, reviewing, negotiating, amending and finalizing the share purchase agreement; (iii) drafting, reviewing, negotiating, amending and finalizing various other ancillary documents/agreements related to the Transaction; (iv) assisting in the execution of the definitive documents for the Transaction; and (v) assisting in closing of the Transaction.
The DSK team representing the Seller comprised of Partner, Mr. Hemang Parekh; Associate Partner, Mr. Jayesh Kothari and Associate, Ms. Hemanshi Gala.
KPMG acted as financial advisors to the Seller.
The Company and Minda were represented by their in-house legal team.