L&L Partners [formerly Luthra & Luthra Law Offices] acted for and advised Inteva Products, LLC (Inteva) on the sale of Inteva's Roof Systems Business to CIE Automotive for a global deal value of US$ 755 million.
L&L acted for and advised Inteva on India elements of the sale of Inteva's Roof Systems Business (design and production line of roofs systems and components for automobiles) to CIE. The Firm assisted Inteva with reverse due diligence, structuring and implementation of the pre-transaction carve-out of the Roof Systems Business into a new special purpose subsidiary in India, and, the subsequent transfer and sale to CIE. This included advising Inteva extensively on both pre-closing and closing steps. L&L also advised on structuring issues covering Indian foreign direct investment and exchange control laws as also direct and indirect tax laws. This was in addition to ubiquitous M&A matters, including Indian company law, contract law, IP, employment and real estate aspects.
Other jurisdictions linked with steps in India included France, Germany, The Netherlands, Slovakia and the U.S. The Firm worked in close collaboration with Inteva's global and Indian leadership, legal, tax and compliance divisions as also other international and Indian advisors and consultants, including Cadwalader, Wickersham & Taft, E&Y, PwC and Citibank.
L&L team comprised of Partner - Vikrant Kumar, Associates - Bissheesh Roy and Anina D'Cunha.
Partner - Gunjan Mishra advised on the Indirect tax aspects, and Partner - Lokesh Shah, Managing Associate - Mayank Aggarwal and Senior Associate -Arzoo Batta advised on the Direct tax aspects of the transaction.
Partner - Nirupam Lodha and Managing Associate - Reshma Vaidya advised on the Intellectual Property aspects of the transaction.