Khaitan & Co advised CEAT Ltd in its acquisition of 'Camso' brand's Compact construction equipment tyre and tracks business from Michelin for a total consideration of USD 225 million. The acquisition includes global ownership of the 'Camso' brand along with manufacturing facility in Sri Lanka.
The Firm role included advising CEAT on structuring, drafting and negotiation of the deal documents which included an asset purchase agreement, IP assignment agreements, IP license agreements and various ancillary agreements, and assisting with completion of condition precedents, advising on procurement of W&I insurance policy and closing of the transaction.
The deal was assisted by:
Intellectual property: Shailendra Bhandare (Partner), Sourav Dan (Counsel) and Shouraseni Chakraborty (Associate).
Competition / Antitrust: Anshuman Sakle (Partner).
The core team consisted of Haigreve Khaitan (Senior Partner), Surbhi Kejriwal (Partner), Harsh Khemka (Partner), Dipshikha Dhar (Senior Associate), Nikhil Singh (Associate), Ravi Shankar (Associate).