Vaish and JSA lead on Rico Autos entire stake sale in its JV Continental Rico to JV Partner Continental AG

Gurgaon-based automobile components firm Rico Auto Industries has sold its entire 50 per cent stake in the joint venture company, Continental Rico Hydraulic Brakes India to its German JV partner Continental Automotive Holding Netherlands BV..After the stake sale to Continental Automotive Holding Netherlands BV, another Continental Group company, the JV will be totally owned by the group..Vaish Associates advised Continental Automotive with a team led by Corporate Partner Bomi Daruwala along with Senior Associate Amitjivan Joshi and Associate Siddharth Dang..J. Sagar Associates advised Rico with a team led by Partner Venkatesh Raman Prasad along with Senior Associate Akshay Nagpal and Associate Tresa CJ..According to Dealcurry, Rico and Continental Automotive had formed the equal equity JV in 2007 to build a hydraulic brake systems plant in India in a two-step approach. Rico Hydraulic Brakes produces calipers for front and rear axles, drum brakes, master cylinders, brake boosters and load sensing proportioning valves for vehicles of all classes..Rico Auto and its subsidiaries supply high-precision, fully machined aluminum and ferrous components and assemblies to automotive OEMs (original equipment manufacturers) in India. The company caters to two-wheeler, passenger car and commercial vehicle segments, and also to system suppliers.