CMS IndusLaw and S&R Associates acted on a Bosch, Wheels India and Brakes India strategic joint venture to manufacture next-generation electronically controlled air system products for commercial vehicles.
Bosch will hold 50% in the joint venture company, with Wheels India and Brakes India holding the remaining 50%. The transaction value remains undisclosed.
“This 50:50 JV between Bosch, on the one hand, and Brakes India and Wheels India, on the other hand, involved navigating various structural complexities to achieve a strong governance framework while preserving commercial flexibility,” said Aparna Ravi, lead partner for the S&R Associates team.
“One of the most challenging and interesting aspects of the transaction was developing a nuanced framework for the treatment of IP to leverage the complementary competencies of Bosch and the TSF companies for the development of next-generation air systems for commercial vehicles.”
S&R Associates acted for Wheels India and Brakes India, both TSF Group (TS Santhanam Family Group) companies, in the formation of the joint venture with Bosch. Ravi led the S&R team, with the assistance of associates Anoushka Borker and Prakriti Anand.
CMS IndusLaw advised Bosch, with partner Stuti Agarwal and senior associate Wilfred Synrem leading the team. Founding and senior partner Suneeth Katarki provided strategic input on certain aspects of the transaction.
