Cyril Amarchand Mangaldas acted as lead legal counsel to AXISCADES Technologies Limited (“ATL”) in connection with the proposed sale of its business of providing Engineering Services in the Aerospace Industry (“Transferring Business”) conducted by ATL, its branches in Germany and France, and its subsidiaries, namely, Cades Studec Technologies (India) Private Limited (“CSTI”), AXISCADES GmbH (“ATL Germany”), AXISCADES UK Limited (“ATL UK”), AXISCADES Technology Canada Inc. (“ATL Canada”) and AXISCADES Inc. (“ATL US”) (collectively, the “Sellers”) to Akkodis, a leading global digital engineering consulting company (the “Purchasers”, and such transaction, the “Transaction”).
The Transaction contemplates an internal carve-out and transfer of the Transferring Business into newly incorporated/acquired subsidiaries, including a subsidiary to be incorporated in India (“New India Co.”), a subsidiary to be acquired in Switzerland (“Overseas HoldCo.”), and subsidiaries to be incorporated/acquired in Germany, France, the United Kingdom, the United States and Canada under Overseas HoldCo. (collectively, the “Overseas Subsidiaries”), followed by fund infusions by the Purchasers and a phased divestment of ATL’s remaining shareholding in New India Co. and Overseas HoldCo. The Transaction is structured as an interconnected multi-jurisdictional acquisition, with simultaneous closing across jurisdictions.
CAM’s role included: (i) advising on the Transaction structure and implementation; (ii) reviewing, negotiating and finalising the transaction documents; (iii) coordinating with ATL’s offshore counsel in Switzerland, United States of America, United Kingdon, Germany and France (iv) advising on the internal business transfers and incorporation/acquisition of the transferee subsidiaries; (v) reviewing and finalising corporate authorisations and disclosures; and (vi) advising on general corporate and securities law aspects of the Transaction.
The transaction was led by Aditya Prasad, and Pooranimaa Hariharan, Partners; with assistance from Astha Tambi, Principal Associate; Sonakshi Verma, Consultant; Arundhati Diljit, and Nisha Nahata, Senior Associates; and Neerali Nanda, and Kyra Ganapathy, Associates.
Anand Jayachandran, Partner, provided strategic inputs for the transaction.
Avaantika Kakkar, Partner (Head – Competition); Dhruv Rajain, Partner; with assistance from Vanya Agarwal, Senior Associate, advised on the competition law aspects.
