CMS INDUSLAW, Khaitan act on Shriram Pistons' €159 million acquisition of three companies from Grupo Antolin

Shriram Pistons & Rings Limited has made a 100% acquisition of three Indian companies from Grupo Antolin, a leading global automotive interiors supplier, for an aggregate consideration of approximately €159 million (~₹1,670 crore).

The companies acquired are Indian entities of Antolin, namely Grupo Antolin India Private Limited, Antolin Lighting India Private Limited, and Grupo Antolin Chakan Private Limited.

CMS INDUSLAW advised Shriram Pistons on these acquisitions.

The transaction team consisted of Avimukt Dar (Founding & Senior Partner), Shantanu Jindel (Partner), Shweta Gupta (Partner), Vatsal Agarwal (Associate) and Abhinav (Associate).

The due diligence team consisted of Shantanu Jindel, Shweta Gupta, Ruhi Jain (Executive Director), Associates Vatsal Agarwal, Abhinav, Samarth Jain, Suryanshu Mishra, Praveen Hegde (Manager) and Nidhi Tiwari (Senior Executive).

The competition team consisted of Unnati Agrawal (Partner), Nikita Agarwal (Counsel), Swapnil S (Senior Associate) and Hrishav Kumar (Associate).

Khaitan & Co advised Grupo Antolin on this transaction. The Firm provided end-to-end transaction support, including transaction structuring, documentation, negotiations, closing-related assistance, and regulatory advice.

The core transaction team consisted of Atul Pandey (Partner), Arjun Bhagi (Partner), Shivansh Mehta (Senior Associate) and Mehul Mehta (Associate). The following provided assistance:

Regulatory: Hirak Mukhopadhyay (Partner) and Shruti Gupta (Senior Associate);

Real Estate: Devendra Deshmukh (Partner) and Ketan Jikar (Senior Associate);

Competition: Pranjal Prateek (Partner) and Armaan Gupta (Senior Associate);

Employment: Abhinav Rastogi (Partner) and Ransher Singh (Senior Associate).

Shriram Pistons & Rings, established in 1963, is a company specializing in the manufacturing of pistons, piston pins, piston rings, and engine valves primarily for the automotive industry. The company operates multiple manufacturing units and is also one of the largest exporters of pistons and rings in the country, serving various automotive companies with high-quality engine components.

The acquisitions expand Shriram Pistons & Rings’ capabilities beyond its traditional powertrain portfolio into automotive lighting and interior components and strengthens its presence across the automotive components value chain.

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