DEAL DETAILS
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Siemens AG’s acquisition of 18% stake in Siemens Limited from Siemens Energy |
Khaitan & Co advised Siemens Aktiengesellschaft, Germany (Siemens AG) on its acquisition of 18% of the equity share capital of Siemens Limited (Company) from Siemens Energy Holding B.V. (Siemens Energy) for an aggregate consideration of EUR 2.1 billion (i.e. approximately INR 18,700 crores).
Pursuant to this transaction, Siemens AG’s stake in the Company has increased from 51% to 69%, while Siemens Energy’s stake has reduced from 24% to 6%. Both Siemens AG and Siemens Energy are, and will continue to be, promoters of the Company post the transaction.
Siemens AG has taken measures to support the stability of Siemens Energy. With the intended acquisition, Siemens and Siemens Energy accelerate unbundling the business activities of the Indian subsidiary of Siemens.
Khaitan & Co advised Siemens AG on all legal aspects of the transaction including: (a) the structure for effecting the transaction; (b) advising on complex aspects of Indian securities laws such as takeover regulations, insider trading regulations etc; and (c) drafting and finalizing all the transaction documents for implementing the structure — including the share purchase agreement and all requisite regulatory compliances and disclosures in connection with the transaction.
Niren Patel (Partner), Arindam Ghosh (Partner), Shashank Patil (Principal Associate) and Shreya Mukherjee (Partner) advised Siemens AG and Siemens Limited on the transaction.
