AZB & Partners along with Khaitan & Co advised on Innomotics India Private Limited’s INR 2,200 crore acquisition of Siemens’ low voltage motors and geared motors business.

The transaction, structured as a going – concern slump sale, has an enterprise value of INR 2,200 crores and is subject to CCI approval and other customary closing conditions.

AZB & Partners is advising Innomotics India (a KPS portfolio company) on its purchase of the low voltage motors and geared motors business from Siemens Limited.

The deal team comprised Senior Partner Divya Mundra, Partner Kritika Agarwal, Senior Associate Darshan Rampuria, Associates Siddharth Tandon, Aryan Tulsyan and Sanjana Samuel, with support from Partners Nishanth Ravindran, Ajay Singh Solanki, Nandan Pendsey, Esq. And Ruchit Parikh, Counsel Arun Babu, Senior Associates Jay Shah and Ankit Dutta, Associates Ayushi Singh and Labdhi Golechha on the due diligence aspects; from Partner Nikunj Maheshwari, Associates Piyush Tiwari and Isha Sheth on the financing aspects; from Partner Aditya Singh Chandel, Senior Associate Suhail Bansal and Associate Akshat Jain on the tax aspects; from Senior Partner Bharat V Budholia, Associates Anmol Awasthi, Varnika Agarwal and Arth Joshi on the anti-trust aspects, and from Senior Associate Sahaj Badaya for his support.

Khaitan & Co advised Siemens on the sale. The core team included Niren Patel, Arindam Ghosh, Shashank Patil, Aman Bagaria and Vinita Jagtiani, with assistance from Anshul Prakash (Employment Law), Anshuman Sakle and Anisha Chand (Competition Law), Rahul Jain (Direct Tax) and Harsh Khemka (Insurance).