L&L, Baker lead on Hitachi acquisition of ABB for $6.4 billion

Japan’s Hitachi is buying a majority stake in the power grid business of Swiss-Swedish engineering giant ABB for $6.4 billion, in what would be its biggest ever buyout, reported ET..L&L Partners acted as Indian legal counsel for Hitachi while Baker & Mckenzie acted as international counsel..The L&L team was led by Partner William Vivian John along with Managing Associates Deepak Kumar and Sumithra Suresh, Senior Associates Rishabh Shah and Shreya Kundu and Associate Tanaya Sanyal..Partner Vaibhav Kakkar and Managing Associate Avisha Gupta advised from a regulatory perspective on issues arising under Takeover Regulations and other SEBI regulations. Partners G.R. Bhatia and Abdullah Hussain and Senior Associate Arjun Nihal Singh advised on competition proceedings, and Managing Associate Vivek Agarwal and Paralegal Kundan advised on corporate compliance issues and investigations..The Baker team was led by Partners Jannan Crozier and David Allen..With the acquisition of the ABB Power Grids business, Hitachi proposes to offer innovative energy solutions business globally by combining ABB’s world-leading grids solutions and products with Hitachi’s digital technology.