New Delhi [India], Jan 13 (ANI
-NewsVoir): The Competition Commission of India (CCI) approved the proposed acquisition by Nidec Corporation (Nidec) of sole control of the Emerson Electric Co.'s (Emerson) motors, drives and electric power generation businesses, which are currently conducted under the brand names Leroy-Somer Electric Power Generation, Leroy-Somer Motors & Drives, Control Techniques and Kato Engineering.
Shardul Amarchand Mangaldas and co. has represented Nidec and filed a Form I notification form with the CCI for securing an unconditional clearance from the CCI, in relation to the same. The proposed transaction involved assessment of electric motor markets and involved various exchanges with the CCI on variety of issues such as relevant market definitions for the assessment of possible adverse effects on competition and no effective lessening of competition in the market due to insignificant market shares of Nidec and Emerson in the market for electric motors in India.
The Competition Law and General Corporate Practices of Shardul Amarchand Mangaldas
and Co. are advising Nidec Corporation on the transaction. The Competition Law Team is led by Aparna Mehra, Partner; and includes Supritha Prodaturi, Associate; Geet Sawhney, Associate.
The General Corporate Team is led by Shuva Mandal, Partner, National Practice Head - General Corporate, M&A and Private Equity; and Mr. Abhishek Guha, Partner.
The parties involved in the transaction are Nidec Corporation (our clients) and Emerson Electric Co. (Counter Party).
Other advisors to the transaction are Sidley Austin LLP - Global Counsel for Nidec Corporation
; Davis Polk and Wardwell LLP. - Global Counsel for Emerson Electric
The value of the deal is approx. USD 1.2 Billion.
The deal was signed on 2 August 2016. (ANI