DSK Legal Advised Pitti Engineering On Acquisition Of Dakshin Foundry
DSK Legal Advised Pitti Engineering On Acquisition Of Dakshin Foundry
DSK Legal assisted and advised Pitti Engineering Limited (the Company) in relation to the acquisition of 100% shareholding of Dakshin Foundry Private Limited (Target Entity) from its existing shareholders (Transaction).
The Company is a listed company having its specialization in manufacturing iron and steel products. The Company produces electrical steel laminations and motor cores for electrical equipment, sub-assemblies for various industrial applications, die-cast rotors for motors and generators, and press tools for shaping and forming metal components.
The Target Entity is engaged in the business of manufacturing of high-quality costing in ductile iron, grey iron, low carbon, alloy steel grades and simo iron costings along with value added services like pattern making, painting, heat and surface treatments and machining.
The scope of work of DSK Legal included:
i. conducting legal due diligence of the Target Entity;
ii. drafting, reviewing, revising, negotiating, and finalizing the share purchase agreement;
iii. assisting in undertaking closing of the Transaction; and
iv. undertaking title due diligence on the underlying parcel of land owned/leased by the Target Entity.
The transaction team at DSK Legal comprised Partner Siddharth Suresh, Senior Associates Ananya Madhusudan and Prateek Kumar Singh, and Associate Lakshay Garg.
The real estate due diligence was conducted by a team that included Partner Srinivas B.R., Senior Associate Shravan K.S., and Associate Simran Naik
Transaction Square acted as the financial advisor for the Company in the Transaction.
