Khaitan & Co Advised Schneider Electric Industries On Acquisition Of 55% Stake In Planon Beheer B.V.
Khaitan & Co assisted Schneider Electric Industries SAS (Schneider) in signing definitive documents for acquiring a further
Khaitan & Co Advised Schneider Electric Industries On Acquisition Of 55% Stake In Planon Beheer B.V.
Khaitan & Co assisted Schneider Electric Industries SAS (Schneider) in signing definitive documents for acquiring a further 55 per cent stake in Planon Beheer B.V. (together with its subsidiaries, Planon). Schneider had earlier acquired a 25% stake in Planon in 2020.
Planon is a provider of real estate and facility management software that enables building and service digitalization.
This strategic investment is expected to further strengthen Schneider’s agnostic software strategy, with Planon’s established and strong footprint in the global buildings market, cloud-based Integrated Workplace Management System offer, and subscription-based software business model well positioned to capitalise on the fast-growing smart building software market.
The Firm assisted Schneider in conducting legal due diligence on Planon's Indian subsidiary, Planon Software Services Private Limited and finalising W&I aspects for signing of the definitive agreements.
The core team consisted of Rabindra Jhunjhunwala (Partner), Roshnek Dhalla (Counsel), Srijanee Bhattacherjee (Principal Associate), Harshita Jajodia (Associate) and Prerna Hegde (Associate) with assistance from the following:
Employment related aspects: Anshul Prakash (Partner), Abhisek Choudhury (Principal Associate) and Sidheswar Sahoo (Associate);
Intellectual property aspects: Shailendra Bhandare (Partner) and Sourav Dan (Principal Associate).
The core team at Khaitan & Co for this transaction included:
• Rabindra Jhunjhunwala (Partner)
• Roshnek Dhalla (Counsel)
• Srijanee Bhattacherjee (Principal Associate)
• Harshita Jajodia (Associate)
• Prerna Hegde (Associate)
Additional support was provided by:
• Employment-related aspects: Anshul Prakash (Partner), Abhisek Choudhury (Principal Associate), and Sidheswar Sahoo (Associate)
• Intellectual Property aspects: Shailendra Bhandare (Partner) and Sourav Dan (Principal Associate)
A notable feature of this transaction was the involvement in finalizing warranty and indemnity (W&I) insurance, an increasingly popular risk allocation tool in M&A transactions. Khaitan & Co assisted W&I insurers in identifying and assessing risk exposure from a transactional perspective and facilitated a smooth underwriting process by addressing detailed underwriting questions concerning the adequacy of disclosure during legal due diligence.