CEAT Limited has acquired 'Camso' brand's Compact construction equipment tyre and tracks business from Michelin for a total consideration of $225 million.
The acquisition includes global ownership of the 'Camso' brand along with manufacturing facility in Sri Lanka.
Khaitan & Co advised CEAT on this acquisition. The Firm's 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 core team consisted of Haigreve Khaitan (Senior Partner), Surbhi Kejriwal (Partner), Harsh Khemka (Partner), Dipshikha Dhar (Senior Associate), Nikhil Singh (Associate), Ravi Shankar (Associate) with assistance from the following:
Intellectual property aspects: Shailendra Bhandare (Partner), Sourav Dan (Counsel) and Shouraseni Chakraborty (Associate);
Competition and merger control law aspects: Anshuman Sakle (Partner).
Camso specializes in off-road tires, wheels, rubber tracks and track systems for the material handling, construction, agriculture and powersports industries.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.