Toyota Motor Corporation (Toyota) and Suzuki Motor Corporation (Suzuki) on Wednesday have announced that the two companies entered into an agreement regarding a capital alliance (the Alliance). This is to establish and promote a long-term partnership between the two companies for collaboration in new fields, including autonomous driving. — Hindu Business Line

In the joint venture, Toyota will acquire 24,000,000 shares of common stock in Suzuki (approximately, a 4.94% stake) for 96 billion yen (over INR 6,510 crore), while SMC plans to acquire shares in TMC equivalent to 48 billion yen (around INR 3,255 crore).

Khaitan & Co advised Toyota Motor Corporation (TMC) led by a team of partner Zakir Merchant, partner Aravind Venugopal and senior associate Shreya Mukherjee on the corporate aspects of the transaction; partner Sagardeep Rathi, principal associate Pranjal Prateek, senior associate Swati Bala and associate Alisha Mehra advised on the competition law aspects and acted as the legal counsel for TMC for the merger filing before the Competition Commission of India.

2019-08-28

Primary jurisdiction of deal: Japan

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