SAM, AZB, HSA on $325m Tata Power defence biz sale to Tata Advance Sys

Thursday, 9 August 2018 By Legally India Corporate M&A

“Tata Power, India’s largest integrated power company, today announced that its board has approved the sale of its defence business to Tata Advance Systems Ltd, a wholly owned subsidiary of Tata Sons at an enterprise value of Rs2,230 crore,” Mint reported in March.

“As a part of the transaction, Tata Advanced Systems would acquire 100 percent of the share capital of TAL Manufacturing Solutions and Tata Advanced Materials from Tata Motors and Tata Industries,” according to a press release from Shardul Amarchand Mangaldas.

Shardul Amarchand Mangaldas managing partner Akshay Chudasama, partners Anuj Prasad and Arka Banerjee, principal associate Anandita Kaushik, senior associates Ankit Mishra and Aditi Tralshawala and associates Payal Chhabria, Taruna Dhingra and Aditya Kumar Ayachit acted for Tata Advanced Systems with assistance from partners Shweta Shroff Chopra and Aparna Mehra, principal associate Vivek Agarwal, senior associate Ritwik Bhattacharya and associate Gayatri Pradhan on competition law aspects and partner Meghna Rajadhyaksha and associates Umang Singh and Pulkitesh Tiwari on NCLT process.

AZB & Partners partner Ashwin Ramanathan acted for Tata Motors, with partner Rushabh Maniar and lawyers Puneet Parihar, Himanshoo Tembe, Rounak Agarwal.

HSA Advocates partners Aninda Pal and Kunal Rajpal acted for Tata Power Company.

2018-03-29

Shardul Amarchand MangaldasAZB & PartnersHSA Advocates

Comments

Guest 9 Aug 2018, 13:10
+3 -0
Kian, check the heading. A few zeros appear to be missing from the deal value.
kianganz 9 Aug 2018, 13:13
+1 -0
Many thanks all for pointing out, have corrected!
Okhla 9 Aug 2018, 13:28
+0 -6
No CAM again ! Wake up & smell the coffee. Only fancy titles, where is the work?
LOL 10 Aug 2018, 05:27
+3 -0
This is the dumbest comment of the century.
Scamster 10 Aug 2018, 06:50
+2 -1
No sometimes S(C)AMs work..... people will all flock to good eventually... lage raho munnabhai..
okhla bus driver 10 Aug 2018, 07:58
+2 -0
your bus is waiting... please get back in...
What? 10 Aug 2018, 15:35
+4 -0
I have seen several comments on CAM and SAM referring to a bus. Can anyone please explain what is the bus?
Thommy 15 Aug 2018, 14:30
+1 -0
[img]https://media3.giphy.com/media/5tLyokkZ02wWA/200.gif[/img]
Chiron 16 Aug 2018, 09:18
+0 -0
there exists a bus
that moves to and fro
from okhla to saket
and back

-with love, driver.
Bozo 11 Aug 2018, 16:54
+2 -2
1 AZB partner versus 20 Sam lawyers. How many SAM lawyers does it take to change a light bulb?
To Bozo 13 Aug 2018, 16:28
+2 -1
If you have some idea about M&A, you would have known why buyer requires a battery of lawyers as against just one lawyer may be enough for selling party for obvious reasons. Please be respectful towards SAM team as well as some of them are accomplished lawyers.
Idk 12 Aug 2018, 17:01
+1 -1
Go HSA!
Correction 14 Aug 2018, 16:25
+0 -0
The transaction comprises the acquisition by TASL of 1. The defence business of Tata Power by a scheme of arrangement, 2. The defence business of Tata Motors by a separate scheme of arrangement, 3. 100 percent of the share capital of TAL, and 4. 100 percent of the share capital of TAML.

The article headline deals with only 1. above is therefore incorrect. HSA advised the seller on 1 above and AZB advised the seller on 2 above. SAM advised the buyer on all four.
Commenting is closed for this article.