JSA Advocates and Solicitors acted as the sole advisor to Schneider Electric in securing an unconditional approval from the Competition Commission of India (CCI) in relation to Schneider Electric’s proposed acquisition of the remaining 35% stake of SEIPL from Temasek.
Under the terms of the proposed acquisition, Schneider Electric will acquire the remaining 35% of SEIPL for an all-cash consideration of approximately USD 6.4 billion.
Schneider Electric is committed to support India’s future expansion through its unique setup in India, which is Schneider Electric’s third largest market and one of its four hubs.
This was an acquirer only, long form (Form II) merger notification filing made by Schneider Electric with JSA acting as the sole counsel for Schneider Electric, which was cleared unconditionally by the CCI in 88 days from filing.
The team from JSA comprised Nisha Kaur Uberoi, Partner & Chair – Competition Law Practice, with Partner – Pranav Satyam, Principal Associate – Sarthak Pande; Senior Associates – Shivangi Chawla, Ishan Arora and Samriddha Gooptu; and Associates – Akanksha Mathur, Mehar Singh Dang, Aditya Prakash, Naman Katyal, Rohan Bhargava, Meghaa G, Cherian Chacko Manayath, Ashmeka K and Mayank Gandhi.
AZB & Partners and WongPartnership advised Schneider Electric on the corporate law aspects of the proposed acquisition.
Other advisors included Dr. R.K.S (Shyam) Khemani along with Nexdigm.
Nisha Kaur Uberoi is a Partner and the Chair of the Competition Law Practice at JSA, leading one of the largest competition law teams in India.