Shardul Amarchand Mangaldas (SAM) and JSA advised on Eicher Motors’ joint venture with Volvo Group.
Pursuant to the transaction, Eicher Motors will invest up to Rs 750 crores and subscribe to 50% of the equity share capital of Volvo Financial Services (India) Private Limited, a non-banking financial company registered with the Reserve Bank of India.
The joint venture will operate as a captive financing platform for customers of AB Volvo and its group entities, VE Commercial Vehicles Limited, and Eicher Motors in India. The transaction is subject to the receipt of requisite RBI approvals and satisfaction of customary conditions precedent.
SAM acted as legal counsel to Eicher Motors Limited in relation to the proposed joint venture with the Volvo Group.
The transaction team comprised Equity Partner Sadia Khan, Principal Associate Sargam Marwaha, Senior Associate Shaurya Jakher, Associate Talin Bhardwaj and Manager (Compliance) Anubhav Anand.
The due diligence team comprised Principal Associate Sargam Marwaha, Senior Associate Shaurya Jakher, Manager (Compliance) Anubhav Anand and Associates Talin Bhardwaj, Shashwat Toshkhani and Barkha Singh.
JSA advised Volvo Group in relation to the proposed joint venture with Eicher Motors.
The JSA transaction team was led by Partners Upendra Nath Sharma and Kartik Jain, with support from Principal Associate Zeni Arora and Senior Associate Yash Wardhan Tiwari.
Banking and finance aspects were handled by Partners Nand Gopal Anand and Harshit Dusad.
Direct tax advice was provided by Partner and Head of Practice (Direct Tax) Kumarmanglam Vijay.
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