Cyril Amarchand Mangaldas and Saraf & Partners advise Dassault Aviation on its India expansion and acquisition of majority stake in Dassault Reliance Aerospace Ltd (DRAL).
Cyril Amarchand Mangaldas (CAM) advised Dassault Aviation on its India expansion plans, including acquiring a majority stake in DRAL and establishing Dassault Aviation MRO India Private Limited (DAMROI) to render MRO services for military aircrafts in India. DRAL will become the first Centre of Excellence for Falcon series aircrafts outside France, including the Falcon 6X and Falcon 8X programmes, and with the establishment of DAMROI, Dassault has become the first major defence and aerospace player to set up a full MRO business for fighter aircrafts in India.
The CAM team comprised Anandita Kaushik, Adwiteeya Sharma, Sudarshan Srikanth, Aeruva Akash and Saumya Rai.
Saraf and Partners acted for Dassault Aviation in its proposed acquisition of an additional stake from Reliance Aerostructure Limited in DRAL. As part of the acquisition, Dassault, an existing 49% shareholder, acquired 2% shareholding of DRAL from Reliance for a consideration of approximately INR 175 crores, thereby becoming DRAL’s majority (51%) and controlling shareholder.
The Saraf and Partners team was led by Senior Partner Vaibhav Kakkar, with Partners Snigdhaneel Satpathy and Debarpan Ghosh.
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