Shardul Amarchand Mangaldas and Co. advises Ashok Leyland on CCI approvals for exit of Nissan from JVs
New Delhi [India], Dec 16 (ANI-NewsVoir): Shardul Amarchand Mangaldas and Co represented Ashok Leyland Limited (ALL) before the Competition Commission of India in relation to the transaction involving exit of Nissan Motor Co., Ltd (NML) from the three joint ventures of ALL and NML Ashok Leyland Nissan Vehicles Limited, Nissan Ashok Leyland Technologies Limited and Nissan Ashok Leyland Power train Limited.
Post the transaction, the three joint venture companies will be wholly owned, and solely controlled by ALL.
The Competition Law Team of Shardul Amarchand Mangaldas and Co advised the ALL team in relation to the filing before the CCI, including filing the notification form with the CCI.
The team was led by Shweta Shroff Chopra, Partner and included Vivek Agarwal, Senior Associate.
The parties involved in the transaction were Ashok Leyland Limited (our clients) and Nissan Motor Co. Limited (counter Party).
Other advisors to the transaction were J. Sagar Associates (for Nissan Motors).
The value of the deal was Rs. 225 crore.
The agreement was signed on 7 September, 2016 and the closure is subject to regulatory approvals. (ANI-NewsVoir)