JSA, Murali lead on AWI acquisition of gas biz of Praxair India
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JSA, Murali lead on AWI acquisition of gas biz of Praxair India

Bar & Bench

J. Sagar Associates (JSA) advised Air Water Inc., Japan (AWI) in the acquisition of business undertaking engaged in manufacturing, distributing and selling specialty industrial gases, from Praxair India Private Limited (Praxair India).

AWI is a Japan-based listed company incorporated in the year 1929. AWI is engaged in the business of manufacturing industrial and medical gases.

Linde Aktiengesellschaft (Linde) and Praxair Inc. (Praxair) had filed a notice with the Competition Commission of India (CCI) in relation to the proposed merger of the two multinational industrial gases companies. The CCI approved the merger, subject to both Linde and Praxair divesting part of their business in India, to avoid an appreciable adverse effect on competition in some markets in India. As per the CCI Order, Praxair India was directed to sell three on-site plants at Jamshedpur and cylinder filling stations located at Asansol and Parbangla, West Bengal.

The total deal value is approximately INR 1,525 Crores.

JSA Team (corporate) comprised Sidharrth Shankar, Shantanu Jindel, Srikant C.V., Shweta Gupta and Srishti Moitra.

Amitabh Kumar, Vaibhav Choukse, Unnati Agrawal and Zenia Cassinath provided advice on the competition law-related aspects.

Oh-Ebashi LPC & Partners was the Japan counsel for AWI.

Praxair was advised by Murali & Co., represented by C. Muralidhara and Alankar Sharma.

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