Firm Matters
BackKhaitan & Co advised Hindustan Composites Ltd on sale of friction business of Hindustan Composites Ltd by way of slump sale to Rane (Madras) Ltd for a total consideration of INR 370 crores. The transaction is subject to regulatory approvals and other closing conditions. As part of the transaction, Rane (Madras) will also acquire the COMPO brand, and 2 plants, expanding its presence across aftermarket, fleet operator, and distribution channels. Following the acquisition, Rane is expected to become the largest player in the segment across passenger vehicles, two-wheelers, railways, exports and the aftermarket.
Deal Team
The core team consisted of Kapish Mandhyan (Partner), Tanya Singh Shah (Principal Associate), Deep Shah (Principal Associate) and Arushi Dokania (Associate)
The deal was assisted by:
Dispute Resolution: Chakrapani Misra (Partner) and Pranali Ashish Vyas (Associate)
Real Estate: Abhiraj Gandhi (Partner), Karan Dattani (Principal Associate) and Aishwarya Ashish Ghule (Associate)
Intellectual Property Adheesh Nargolkar (Partner) and Rashmee Kumar (Principal Associate)
Direct Tax: Jimmy Bhatt (Partner), Vishal Samnani (Principal Associate) and Preet Bipinkumar Sanghavi (Associate)
Capital Markets: Sudhir Bassi (Executive Director)
Employment Aspects: Deepak Kumar (Partner)
Corporate & Commercial: Sathyajith Nair (Principal Associate)
Corporate: Partha Narendra Mansukhani (Senior Associate), Prankul Boobana (Senior Associate) and Kriti Jalan (Associate)
