New Delhi [India], Feb 2 (ANI-NewsVoir): Shardul Amarchand Mangaldas advised Colfax Corporation in relation to acquisition of the welding wire business of Sandvik Asia Private Limited by ESAB India Limited (a Colfax group company). The transaction is a part of the global sale of the stainless steel and nickel alloy welding consumables business of Sandvik to ESAB entities in various jurisdictions.
The transaction involves transfer of Sandvik's manufacturing facilities in Sweden and USA and its sale and distribution business in India, China, France, Germany, Italy, Singapore, Spain, Sweden, Switzerland, UAE, UK and USA. The India leg of the business transfer was undertaken by way of a slump sale.
The General Corporate Practice team of Shardul Amarchand Mangaldas advised on structuring of the local transaction, drafting, reviewing and negotiating the local transaction documents for the India business transfer and general corporate advisory. The transaction team was led by Akila Agrawal, Partner; and included Megha Bhargava, Principal Associate; and Sumi Saikia, Senior Associate.
Other advisors to the transaction are MAQS Advokatbyra (Deal counsel to Colfax/ ESAB); Phoenix Legal (Domestic counsel to Sandvik) and Mannheimer Swartling (Deal counsel to Sandvik).
The deal closed on January 31, 2018. (ANI-NewsVoir)