Cyril Amarchand Mangaldas connects Dixon Technologies - vivo JV

Dixon Technologies (India) Limited and vivo Mobile India Private Limited are forming a joint venture to carry on the business of original equipment manufacturing (OEM) of electronic devices, including smartphones, in India.

Cyril Amarchand Mangaldas advised Dixon on this JV. The Firm's role included undertaking legal due diligence on vivo, advising on structuring of the transaction, and review and negotiation of transaction documents (including joint venture agreement, shareholders agreement and asset purchase agreement).

The transaction was led by Akila Agrawal (Senior Partner), Megha Bhargava (Partner), Ishita Khandelwal (Partner), with support from Udyan Arya Shrivastava (Principal Associate), Anusha Rai (Principal Associate), Associates Rohit Raj and Siddharth Tiwari.

vivo has received an approval from the Government of India under Press Note 3 of 2020, issued by the Department for Promotion of Industry and Internal Trade, for incorporation of the JV Co. and subscription of its shares. At closing, the JV Co will purchase certain manufacturing assets of vivo. Dixon will hold a 51% stake and vivo will hold 49% in the JV Co.

The joint venture company will undertake manufacture of part of vivo's OEM smartphone orders in India and can also engage in OEM business for other brands. This partnership will bolster Dixon's manufacturing footprint and strengthen its role as a player in the android smartphone ecosystem in India.

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