Aekom Legal acted as the legal advisor in connection with the strategic joint venture between Intec Corporation, a market leader in the manufacture of HVAC systems for railways in India, and HNTENC Co. Ltd., a prominent South Korean company engaged in the manufacture of air conditioning equipment.
The joint venture has been established with the objective of executing SITC (Supply, Installation, Testing & Commissioning) contracts for Korean automobile manufacturers in India. The partnership brings together Intec’s extensive local manufacturing expertise and HNTENC’s advanced global engineering capabilities to cater to the growing demand for HVAC systems and related infrastructure in the Indian market.
Aekom Legal advised on the entire transaction lifecycle, including the structuring of the joint venture arrangement, taking into account technical collaboration, commercial alignment, and governance terms.
The firm also advised on foreign investment regulatory considerations, including FEMA advisory, and assisted with the incorporation of the joint venture entity and the related regulatory and post-incorporation compliance.
The team played a key role in the negotiation and finalization of the joint venture agreement, along with other related commercial and technical documentation.
The transaction was led by Satwinder Singh (Managing Partner), with support from Kalpit Khandelwal (Partner – Mergers and Acquisitions), Lokesh Dhyani (Partner- Regulatory Affairs and Restructuring) along with his team and Sayyeda Saniya (Senior Associate – Mergers and Acquisitions).
The deal reporting on this platform is based on the information received from law firms, and therefore, some details may be missing/incomplete. If your firm has not been credited for this deal, write to us at chanchal.makhija@thegreymatter.co.in mentioning your firm’s name, lawyers involved (including designation) and client represented.
