Khaitan & Co Advised Siemens On Demerger Of Energy Business Into Separate Entity - Siemens Energy India Ltd.
Khaitan & Co Advised Siemens On Demerger Of Energy Business Into Separate Entity - Siemens Energy India Ltd.
Khaitan & Co advised Siemens Limited (SIL) on the demerger of its energy business into a separate legal entity – Siemens Energy India Limited (SEIL) (currently a wholly owned subsidiary of SIL), by way of a scheme of arrangement.
Under the proposed scheme of arrangement, shareholders of SIL will receive one equity share of SEIL for each equity share of SIL held. Following this, SEIL will undergo listing, mirroring the shareholding pattern of SIL, pending requisite approvals.
The transaction is subject to approval from regulatory bodies such as BSE Limited, National Stock Exchange of India Limited, Securities and Exchange Board of India, as well as the assent of SIL and SEIL shareholders and creditors, along with approval from the National Company Law Tribunal (NCLT).
Anticipated to conclude in 2025, the demerger will empower both entities to pursue tailored strategies, concentrate on core portfolios, and make informed decisions regarding capital allocation. This strategic move aims to unlock the full value of each business for the benefit of shareholders.
Khaitan & Co served as the exclusive legal advisor for the transaction, overseeing all legal facets, including structuring, compliance with Indian laws, and drafting and finalizing transaction documents such as the scheme of arrangement and implementation agreement.
Khaitan & Co will continue to guide SIL and SEIL throughout the transaction's completion, including navigating the NCLT process and obtaining necessary regulatory approvals, culminating in the subsequent listing of SEIL.
The core deal team comprised of Niren Patel (Partner), Mehul Shah (Partner), Shreya Mukherjee (Partner) and Rushabh Gala (Principal Associate), and was assisted by:
Securities Law Aspects: Arindam Ghosh (Partner), Shashank Patil (Counsel), Gaurang Mansinghka (Associate) and Shubhra Wadhawan (Associate)
Scheme Related Aspects: Aman Yagnik (Counsel), Jamsheed Dadachanji (Principal Associate), Amit Panwar (Senior Associate) and Dhruvi Rakesh Dharia (Associate)
Documentation Aspects: Zico Bahl (Senior Associate)
Employment Law Aspects: Anshul Prakash (Partner), Abhisek Choudhury (Principal Associate), Ajeta Anand (Associate) and Shubhangi Zite (Associate)
Real-Estate Aspects: Harsh Parikh (Partner)
Tax-Structuring Aspects: Bhavin Vora (Executive Director) and Shailesh Mundra (Associate)
Anti-Trust Aspects: Anshuman Sakle (Partner) and Anisha Chand (Partner).
