Khaitan & Co.\'s Rabindra Jhunjhunwala led his team in advising Ceat, an RPG Group company and a leading tyre manufacturer in its acquisition of Sri Lanka-based Associated Motorways\' stake in Associated Ceat Holdings Private Limited. Associated Ceat Holdings Private Limited was a joint venture between Associated Motorways and Ceat.
When this transaction closes, Ceat would have brought over Associated Motorways\' holding in the JV company. Mr. Jhunjhunwala, speaking to Bar & Bench told that \"This transaction enables the firm to develop expertise in acquisitions with respect to the Sri Lankan market. We used our prior knowledge in Sri Lankan laws from both a domestic perspective and a Sri Lankan perspective to assist our client.\"
Suzlon Green Power sold its wholly owned subsidiary, Super Wind Project Private Limited to Kolkata based Techno Electric and Engineering Company Limited for Rs. 232 crore ($ 48 million). Super Wind is engaged in the development and operation of windmills in Tamil Nadu and Karnataka. Assisting the seller Suzlon were Bombay-based partners, Haigreve Khaitan and Upendra Joshi.
Suzlon has joined the list of companies that is selling its non-core assets to reduce their current debt burden.