AZB, Trilegal act on TataAutoComp Ichikoh cross-border JV, ETLegalWorld
AZB & Partners is advising TataAutoComp on its 50:50 joint venture with Japan’s Ichikoh industries to acquire Valeo’s automotive lighting business in India from Valeo India. Valeo, which holds 61.2 percent stake in Ichikoh, was advised by Trilegal.
The joint venture will focus on serving the automotive lighting market in India. The companies are currently finalizing definitive agreements for both the joint venture formation and the business acquisition, which remains subject to necessary statutory and regulatory approvals.
Commenting on the JV, Arvind Goel, Vice Chairman of Tata AutoCompsaid “The formation of this Joint Venture would be another significant step by Tata AutoComp in offering contemporary products and technologies to automotive OEMs in India. Together with their automotive lighting expertise, we will offer technologically superior and differentiated lighting solutions to our customers.”
“The move reflects growing consolidation and strategic partnerships in India’s automotive components industry,” said AZB senior partner Aarthi Sivanandh in a LinkedIn post.
Sivanandh led the firm’s representation on the deal, along with partner Bhavana Alexander and associate Adharsh V.
The Trilegal corporate team advising on the matter was led by partner Delano Furtado and included counsel Saumya Kakar, and associates Pranika Correa, Anoushka Gahilot, and Punit Sanwal.
Trilegal partners Gauri Chhabra (antitrust), Komal Dani (tax) and Kirti Balasubramanian (IP) also assisted on the deal.