Switzerland-based mechanical engineering company Ammann Group Holding AG has fully acquired the stake of its partner in a joint venture. Gujarat Apollo Industries Ltd, which operates Ammann India Pvt. Ltd, is selling its 30% stake in the JV for Rs 202.43 crore (approximately $26.57 million at current exchange rates).

• VC Circle

PDS Legal advised Gujarat Apollo Industries Limited and its subsidiary AEML Investments Limited led by a team of partner Vihang Virkar and senior associate Himanshu Garg.

J Sagar Associates acted as the Indian legal counsel to Ammann Singapore, led by partner Aditya Rathi and associate Parshva Doshi.

2020-06-19

Deal value: INR 202.43 crore (USD 26.5 million)

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