CMS INDUSLAW and S&R Associates have advised on the formation of a strategic joint venture between Bosch Limited and TSF Group Companies (Wheels India Limited and Brakes India Private Limited) for the engineering, manufacturing and sale of electronically controlled and software-driven air systems for commercial vehicles.
Under the terms of the transaction, Bosch will hold a 50% equity stake in the joint venture company, while Wheels India and Brakes India will collectively hold the remaining 50% stake. The joint venture will focus on products including air compression systems, air processing systems, air suspension systems and air parking brake systems for commercial vehicles. The products manufactured by the joint venture company are proposed to be sold across multiple global territories with the support of the joint venture partners.
The proposed joint venture combines Bosch’s expertise in electronics, software, sensing and control systems with the mechanical system design, pneumatic management architecture and manufacturing capabilities of Wheels India and Brakes India, and is expected to support the development of next-generation electronically controlled air system products for commercial vehicles.
CMS INDUSLAW advised Bosch Limited on the transaction.
The CMS INDUSLAW team comprised Partner Stuti Agarwal and Senior Associate Wilfred Synrem. Founding and Senior Partner Suneeth Katarki provided strategic inputs on certain aspects of the transaction.
S&R Associates represented Wheels India Limited and Brakes India Private Limited in the formation of the joint venture.
The S&R team was led by Partner Aparna Ravi and included Associates Anoushka Borker and Prakriti A.
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