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The Competition Commission of India (CCI) approved the proposed acquisition by General Motors (Hong Kong) Company Limited’s (GMHK) of sole control of the SAIC General Motors Investment Limited (HKJV) from SAIC Motor HK Investment Limited (SAIC HK). SAIC HK is transferring all its shareholding in HKJV to GMHK and completely exiting from the joint venture by way of the Proposed Transaction.
Shardul Amarchand Mangaldas & Co. has represented General Motors (Hong Kong) Investment Limited and filed a Form I notification form with the CCI for securing an unconditional clearance from the CCI, in relation to the same. The Proposed Transaction was filed on the basis of a binding term sheet and it was approved by the CCI in 24 calendar days.
The Competition Law Practice of Shardul Amarchand Mangaldas & Co. are advising General Motors (Hong Kong) Company Limited on the transaction. The Competition Law Team is led by Ms. Aparna Mehra, Partner; and includes Mr. Vivek Agarwal, Senior Associate; Mr. Geet Sawhney, Associate; and Mr. Karan Latayan, Associate. The strategic advice on the transaction was provided by equity partner Ms. Shweta Shroff Chopra.
The parties involved in the transaction are General Motors (Hong Kong) Investment Limited (our clients) and SAIC Motors HK Investment Limited (Counter Party).
Other advisors to the transaction are AZB & Partnersfor SAIC Motors HK Investment Limited.
The deal was signed on 1 December 2016
About Shardul Amarchand Mangaldas & Co.
Founded in 2015, Shardul Amarchand Mangaldas & Co, is one of India’s leading law firms rated by International organisations, law directories and professional journals. As a full service law firm, it is renowned in the business community for its ability to enable business, its innovative solutions, its responsiveness and collaboration with its clients. The Firm continues its journey as “a young and wise firm” with a legacy of 99 years.