Lakshmikumaran and Sridharan acts for Regal Rexnord Corporation in connection with the Indian leg of the global transaction, involving the acquisition of the industrial electric motors and generators business of Rexord Corporation by WEG S.A across various jurisdictions

New Delhi, June 17, 2024: Lakshmikumaran and Sridharan represented Regal Rexnord Corporation in connection with the Indian leg of a global transaction involving the acquisition of the industrial electric motors and generators business of Regal Rexnord Corporation by WEG S.A across various jurisdictions, including India, the United States of America, Brazil, Australia, New Zealand, Switzerland and Netherlands.

The Indian leg of the global transaction resulted in Regal Rexnord Corporation selling 100% (one hundred per cent) of its stake in Marathon Electric Motors (India) Limited to WEG Holding B.V. (one of the group entities of WEG S.A.).

The firm’s role included conducting a limited vendor legal due diligence on the Indian target entity, drafting, reviewing, negotiating and finalizing the transaction documents in connection with the Indian leg of the transaction, advising on the direct tax related issues emanating from the Indian leg of the transaction, advising on the internal reorganization and transfer of certain employees in India prior to consummation of the global level transaction and assisting with closing of the Indian leg of the transaction.

Regal Rexnord Corporation is a global conglomerate inter-alia involved in the manufacturing of industrial electric motors and generators.

WEG S.A. is a global conglomerate engaged in the fields of electric engineering and automation technology.

The core deal team consisted of Mr. Gaurav Dayal, Partner, Mr. Sushrut Biswal, Partner, Mr. Rohan Verma, Principal Associate and Mr. Suhaas Arora, Principal Associate.

Ms. Apurva Jain, Senior Associate, Mr. Yashraj Chauhan, Associate, Mr. Daksh Hemnani, Associate, Mr. Nehal Kharyal, Associate and Mr. Aditya Shekhar, Associate assisted with the vendor legal due diligence of Marathon Electric Motors (India) Limited and other closing related matters.

Mr. Paritosh Chauhan, Associate Partner, advised on employment law related matters, including advising on transfer of certain employees as part of the internal reorganisation prior to consummation of the global transaction.

Mr. S. Vasudevan, Executive Partner and Mr. Harshit Khurana, Principal Associate, advised on the direct tax related matters pertaining to the Indian leg of the transaction.