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Aug 29, 2023

Schaeffler AG and Schaeffler India on Schaeffler India’s proposed acquisition of 100% shareholding of KRSV Innovative Auto Solutions Private Limited (‘Koovers’)

AZB & Partners is advising Schaeffler AG and Schaeffler India (a listed company) on Schaeffler India’s proposed acquisition of 100% shareholding of KRSV Innovative Auto Solutions Private Limited (‘Koovers’) from its founders and existing investors for a consideration of approximately INR 1.42 billion. Koovers offers spare parts solutions to Indian automotive aftermarket workshops via a B-to-B e-commerce platform and supplies to over 7,000 plus workshops and has a portfolio of around 1.8 million parts from various manufacturers.

Our M&A deal team comprises our Senior Partner Ashwath Rau, Partners John Raghav and Ramya Suresh, Associates Kunal Pradhan, Deepjoyika Dastidar, and S B Aditi. They were assisted on corporate diligence aspects by our Associates Saumil Mangaokar and Varun Khandelwal; on antitrust aspects by our Partner Bharat Budholia, Associates Vayshnavi Ganesh and Shivangi Pradhan; on employment aspects by our Partners Ajay Singh Solanki, Nishanth Ravindran, Associates Madhur Khandelwal and Prachi Kulkarni; on IP aspects by our Partner Nandan Pendsey and Senior Associate Rashmee Kumar; and on the real estate diligence by our Senior Associate Vanya Umranikar.

 

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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