JSA acted as the sole legal adviser to Robert Bosch Investment Nederland and Robert Bosch (US) on the sale of their stakes in Bosch Chassis Systems India, for an aggregate consideration of around USD970 million, to Bosch Limited.
Partner Anand Lakra led the transaction team, with the support of the mergers and acquisitions team comprising principal associate Ami Shah as well as associates Janhavi Jagtap and Rahi Barfiwala.Partners Kumarmanglam Vijay and Surajkumar Shetty handled the direct tax aspects.
Bosch Limited, the flagship company of the Bosch Group in India, plans to acquire 100% of Bosch Chassis Systems India, involving a cash deal and issuance of shares on a preferential basis. After the acquisition, Bosch Chassis Systems India will operate as an independent entity and its governance will be driven by Bosch Limited.
The transaction, which is subject to shareholder approval, will see Bosch Chassis Systems India become a 100% subsidiary of Bosch Limited.
Bosch Limited said this portfolio realignment reinforced the company’s vision as a preferred mobility partner for its customers in vehicle systems, software and hardware.
Bosch Chassis Systems India represents Bosch’s Vehicle Motion division in India and is a market leader in automotive safety systems. Its portfolio spans active and passive safety, as well as braking systems for passenger cars, two-wheelers and commercial vehicles.