T.V. Sundram Iyengar & Sons, India Motor Parts & Accessories Limited (IMPAL), Flometallic India and Sundaram Finance Holdings has acquired a shareholding in Brakes India from its joint venture partner, ZF Friedrichshafen AG (ZF).

Recently, ZF acquired WABCO Holdings, Inc and due to the resultant competitive situation, ZF agreed to divest its entire shareholding in Brakes India to TVS & Sons, SFHL, IMPAL and Flometallic.

J Sagar Associates advised TVS, Sundaram Finance Holdings and affiliates to acquire a shareholding in Brakes India

The JSA team included Partners Aarthi Sivanandh and Shafaq Sapre along with Senior Associate Bhargavi Ravi and Associate Shika Suresh.

Competition aspects of the transaction were handled by Cyril Amarchand Mangaldas with a team led by Partner Avantika Kakkar and Principal Associate Smita Andrews.

ZF was represented by Shardul Amarchand Mangaldas in India.

The SAM team included Partner Anirban Bhattacharya along with Senior Associate Tanmayee Chaulkar and Associate Pranav Sethi.

The competition law team was led by Partner Aparna Mehra, along with Principal Associate Ritwik Bhattacharya and Associate Rahul Shukla.

Latham & Watkins represented ZF internationally.

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