Khaitan & Co advised Avalon Technologies Ltd on its proposed joint venture with Zollner Elektronik AG to establish a company in India for PCBA, box-build, and system integration manufacturing.
Under the arrangement, Zollner will initially hold 51% and Avalon 49% of the JV. After the start of commercial production at the JV's manufacturing facility, Avalon will have an option, subject to certain conditions, to acquire an additional 2% stake — taking its shareholding in the JV to 51%.
This engagement underscores Khaitan & Co’s continued leadership in advising listed clients on complex cross-border investments into India’s EMS manufacturing space.
The deal was assisted by:
Capital Markets: Thomas George (Partner) and Tharun Vadlapatla (Senior Associate)
Competition / Antitrust: Anisha Chand (Partner) and Armaan Gupta (Principal Associate)
Direct Tax: Rahul Jain (Partner), Jinisha Jain (Senior Associate) and Vishakha Ghanshyamdas Ranga (Associate)
The core team consisted of Aravind Venugopal (Partner), Vaibhav Vivek Kulkarni (Principal Associate), Amrutha Alapati (Associate) and Medha Hebbar (Associate)