{"id":322440,"date":"2024-05-18T14:00:50","date_gmt":"2024-05-18T08:30:50","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=322440"},"modified":"2024-05-18T16:52:45","modified_gmt":"2024-05-18T11:22:45","slug":"khaitan-co-advises-siemens-limited-sil-on-the-demerger-of-its-energy-business-into-a-separate-legal-entity-siemens-energy-india-limited","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2024\/05\/18\/khaitan-co-advises-siemens-limited-sil-on-the-demerger-of-its-energy-business-into-a-separate-legal-entity-siemens-energy-india-limited\/","title":{"rendered":"Khaitan &amp; Co advises Siemens Limited (SIL) on the demerger of its energy business into a separate legal entity &#8211; Siemens Energy India Limited"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 2%; text-align: center; font-weight: bold; font-size: 16.0pt;\">DEAL DETAILS<\/p>\n<table style=\"border-bottom-style: none; border-left-style: none; border-right-style: none; border-collapse: collapse; border-top-style: none; margin-left: 0mm; margin-right: auto; table-layout: auto; width: 198.86mm; margin-bottom: 2%;\">\n<colgroup>\n<col width=\"752\"\/>\n<\/colgroup>\n<tbody>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"background-color: #d3d3d3; border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 198.86mm;\">\n<p style=\"margin-bottom: 0.0mm; font-weight: bold; font-size: 11.0pt;\">Siemens Limited&#8217;s demerger of energy business<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"margin-bottom: 3%;\">Khaitan &amp; Co advised Siemens Limited (<span style=\"font-weight: bold;\">SIL<\/span>) on the demerger of its energy business into a separate legal entity &#8211; Siemens Energy India Limited (<span style=\"font-weight: bold;\">SEIL<\/span>) (currently a wholly owned subsidiary of SIL), by way of a scheme of arrangement.<\/p>\n<p style=\"margin-bottom: 3%;\">As per the scheme of arrangement, shareholders of SIL will receive 1 equity share of SEIL for every 1 equity share of SIL. SEIL will be subsequently listed and will mirror the shareholding of SIL, upon the receipt of requisite approvals. The proposed transaction is, inter alia, subject to receipt of requisite approvals from statutory and regulatory authorities, including the approval from BSE Limited, National Stock Exchange of India Limited and the Securities and Exchange Board of India, the respective shareholders and creditors of SL and SEIL and National Company Law Tribunal (<span style=\"font-weight: bold;\">NCLT<\/span>). The process of demerger, including receipt of requisite approvals, and subsequent listing of SEIL is expected to be completed in 2025.<\/p>\n<p style=\"margin-bottom: 3%;\">The demerger will enable both companies to pursue their specific strategies, focus on their core portfolios and take decisions on capital allocation. This will enable the full value of each of the businesses to be unlocked for the benefit of the shareholders.<\/p>\n<p style=\"margin-bottom: 0.0mm;font-size: 11.0pt;\"><span style=\"\">Khaitan &amp; Co was the sole legal advisor for the transaction, and advised on<\/span> <span style=\"\">all legal aspects of the demerger and the transaction as a whole, including: (a) the structure for effecting and implementing the transaction; (b) advising on complex aspects of Indian laws; and (c) drafting and finalizing all the transaction documents for implementing the structure &#8212; including the scheme of arrangement, implementation agreement and all requisite regulatory documents, compliances and disclosures in connection with the transaction<\/span>.<span style=\"\"> Khaitan &amp; Co will continue to advise SIL and SEIL on all legal aspects until the completion of the transaction, including the NCLT process and all other aspects relating to receipt of all the requisite statutory approvals, subsequent listing of SEIL etc.<\/span><\/p>\n<p style=\"\">The core deal team comprised of Niren Patel (Partner), Mehul Shah (Partner), Shreya Mukherjee (Partner) and Rushabh Gala (Principal Associate), and was assisted by:<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">(a) <span style=\"text-decoration: underline;\">Securities law aspects<\/span>: Arindam Ghosh (Partner), Shashank Patil (Counsel), Gaurang Mansinghka (Associate) and Shubhra Wadhawan (Associate)<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">(b) <span style=\"text-decoration: underline;\">Scheme related aspects<\/span>: Aman Yagnik (Counsel), Jamsheed Dadachanji (Principal Associate), Amit Panwar (Senior Associate) and Dhruvi Rakesh Dharia (Associate)<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">(c) <span style=\"text-decoration: underline;\">Documentation aspects<\/span>: Zico Bahl (Senior Associate) <\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">(d) <span style=\"text-decoration: underline;\">Employment law aspects<\/span>: Anshul Prakash (Partner), Abhisek Choudhury (Principal Associate), Ajeta Anand (Associate) and Shubhangi Zite (Associate)<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">(e) <span style=\"text-decoration: underline;\">Real-estate aspects<\/span>: Harsh Parikh (Partner)<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">(f) <span style=\"text-decoration: underline;\">Tax-structuring aspects<\/span>: Bhavin Vora (Executive Director) and Shailesh Mundra (Associate)<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt; margin-bottom: 3%;\">(g) <span style=\"text-decoration: underline;\">Anti-trust aspects<\/span>: Anshuman Sakle (Partner) and Anisha Chand (Partner)<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>DEAL DETAILS Siemens Limited&#8217;s demerger of energy business Khaitan &amp; Co advised Siemens Limited (SIL) on the demerger of its energy business <\/p>\n","protected":false},"author":8808,"featured_media":322479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45282,2],"tags":[68837,6791,3539,12521,16791,68836,58038],"class_list":["post-322440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law-firms-news","category-news","tag-bse-limited","tag-khaitan-co","tag-National_Company_Law_Tribunal","tag-nclt","tag-securities-and-exchange-board-of-india","tag-siemens-energy-india-limited","tag-siemens-limited"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Khaitan &amp; 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Co advises Siemens Limited in relation to acquisition of the Electric Vehicle (EV) division of Mass-Tech Controls Private Limited","author":"Bhumika Indulia","date":"May 30, 2023","format":false,"excerpt":"DEAL DETAILS Siemens Limited | Proposed divestment of e-mobility business of Mass-Tech Controls Private Limited Khaitan & Co advised Siemens Limited in relation to acquisition of the Electric Vehicle (EV) division of Mass-Tech Controls Private Limited on a going concern basis by way of slump sale, subject to fulfilment of\u2026","rel":"","context":"In &quot;Law Firms News&quot;","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"siemens limited","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/siemens-limited.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/siemens-limited.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/siemens-limited.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/siemens-limited.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":309323,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/12\/14\/khaitan-co-advises-siemens-aktiengesellschaft-germany-on-its-acquisition-of-18-of-the-equity-share-capital-of-siemens-ltd-from-siemens-energy-holding-b-v\/","url_meta":{"origin":322440,"position":1},"title":"Khaitan &amp; Co advises Siemens Aktiengesellschaft, Germany on its acquisition of 18% of the equity share capital of Siemens Ltd from Siemens Energy Holding B.V.","author":"Bhumika Indulia","date":"December 14, 2023","format":false,"excerpt":"DEAL DETAILS 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\u2026","rel":"","context":"In &quot;Law Firms News&quot;","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"Siemens Aktiengesellschaft","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/12\/khaitan.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/12\/khaitan.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/12\/khaitan.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/12\/khaitan.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":287337,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/20\/khaitan-co-advises-inox-green-energy-services-ltd-in-relation-to-acquisition-of-majority-stake-in-i-fox-windtechnik-india-private-ltd\/","url_meta":{"origin":322440,"position":2},"title":"Khaitan &#038; Co advises Inox Green Energy Services Ltd in relation to acquisition of majority stake in I-Fox Windtechnik India Private Ltd.","author":"Bhumika Indulia","date":"March 20, 2023","format":false,"excerpt":"Khaitan & Co\u00a0Advised Inox Green Energy Services Limited in relation to acquisition of majority stake in I-Fox Windtechnik India Private Limited. The team assisted in diligence, structuring, drafting, negotiation, execution and closing of definitive agreements. The core team consisted of Akshay Malhotra (Partner), Gahan Singh (Partner), Ishita Gupta (Senior Associate),\u2026","rel":"","context":"In &quot;Law Firms News&quot;","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"Inox Green Energy","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-792.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-792.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-792.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-792.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":269700,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/07\/06\/khaitan-co-advises-endurance-technologies-limited-on-their-100-acquisition-of-maxwell-energy-systems-private-limited-in-a-staggered-manner\/","url_meta":{"origin":322440,"position":3},"title":"Khaitan &#038; Co advises Endurance Technologies Limited on their 100% acquisition of Maxwell Energy Systems Private Limited in a staggered manner","author":"Bhumika Indulia","date":"July 6, 2022","format":false,"excerpt":"NO HEADINGS DETAILS 1. Sector Automobiles and Components 2. Announcement Date 5-July-2022 3. Completion Date 1 July 2022 4. Name of Client Endurance Technologies Limited 5. Buyer Details Endurance Technologies Limited | India 6. Target Details Maxwell Energy Systems Private Limited | India 7. Deal Description Advised Endurance Technologies Limited\u2026","rel":"","context":"In &quot;Law Firms News&quot;","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-331.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-331.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-331.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-331.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-331.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":269551,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/07\/04\/khaitan-co-acts-as-legal-counsel-to-the-inox-green-energy-services-ltd-and-inox-wind-limited-as-to-indian-law-in-relation-to-the-initial-public-offering-of-equity-shares-of-the-company\/","url_meta":{"origin":322440,"position":4},"title":"Khaitan &#038; Co acts as Legal Counsel to the Inox Green Energy Services Ltd. and Inox Wind Limited as to Indian Law in relation to the initial public offering of equity shares of the Company","author":"Bhumika Indulia","date":"July 4, 2022","format":false,"excerpt":"Khaitan & Co acts as Legal Counsel to the Inox Green Energy Services Ltd. and Inox Wind Limited as to Indian Law in relation to the initial public offering of equity shares of the Company. \u00a0 NO HEADINGS DETAILS 1. Sector Wind Energy 2. Announcement Date 17-Jun-2022 3. Completion Date\u2026","rel":"","context":"In &quot;Law Firms News&quot;","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"Khaitan","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-323.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-323.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-323.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-323.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-323.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":279007,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/12\/02\/khaitan-co-advises-atha-group-on-acquisition-by-blupine-energy-private-limited-backed-by-actis-pe-of-the-100-stake-in-the-atha-group-entities\/","url_meta":{"origin":322440,"position":5},"title":"Khaitan &#038; Co advises Atha Group on acquisition by BluPine Energy Private Limited, backed by Actis PE of the 100% stake in the Atha Group entities","author":"Bhumika Indulia","date":"December 2, 2022","format":false,"excerpt":"\u00a0 \u00a0 DEAL DETAILS Atha Group | Acquisition by BluPine Energy Private Limited NO HEADINGS DETAILS 1.\u00a0 Sector Infrastructure: Solar 2.\u00a0 Announcement Date 24-Nov-2022 3.\u00a0 Completion Date 24-Nov-2022 4.\u00a0 Name of Client Atha Group 5.\u00a0 Acquirer and buyer Details Blupine Energy Private Limited | India | Acquirer Solarcraft Power Private\u2026","rel":"","context":"In &quot;Law Firms News&quot;","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image55.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/322440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=322440"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/322440\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/322479"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=322440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=322440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=322440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}