Khaitan & Co Mumbai partner Rabindra Jhunjhunwala acted for Blue Star India and other shareholders in the sale of their 100 per cent stake in air distribution products manufacturing unit Ravistar India for approximately Rs 39 crores ($8.3m), said the firm.

The buyer was Sweden-based ventilation company Systemair AB which is understood to have been advised by accountancy firm PwC on the transaction but did not have any other legal adviser.

The legal work involved structuring and advising on tax issues related to the transaction besides legal documentation concerning the sale of shareholding in the target to the purchaser company.

  <smarttagtype name="State" namespaceuri="urn:schemas-microsoft-com:office:smarttags"></smarttagtype><smarttagtype downloadurl="http://www.5iantlavalamp.com/" name="place" namespaceuri="urn:schemas-microsoft-com:office:smarttags"></smarttagtype><smarttagtype downloadurl="http://www.5iantlavalamp.com/" name="country-region" namespaceuri="urn:schemas-microsoft-com:office:smarttags"></smarttagtype><smarttagtype downloadurl="http://www.5iamas-microsoft-com:office:smarttags" name="City" namespaceuri="urn:schemas-microsoft-com:office:smarttags"></smarttagtype>Khaitan &amp; Co has acted opposite PwC (PricewaterhouseCoopers) and Crawford Bayley in two recent transactions involving the sale of Blue Star’s wholly owned subsidiary to Swedish company <place><city>Systemair</city> <state>AB.</state></place>

Khaitan & Co Mumbai partner Rabindra Jhunjhunwala acted for Blue Star India and other shareholders in the 100 per cent sale of air distribution products manufacturing unit Ravistar India for approximately Rs 39 crores.

The buyer was Sweden-based ventilation company Systemair AB which was advised by accountancy firm PwC on the transaction but did not have any other legal adviser.

The legal work involved structuring and advising on tax issues related to the transaction besides legal documentation concerning the sale of shareholding in the target to the purchaser company.