Saudi Arabia-based Zamil Industrial Investment Company has acquired the remaining 70 per cent from its joint venture partner Advantec Coils for an estimated Rs. 300 crore..Prior to the transaction, Zamil had originally owned a minority stake in Advantec Coils, which it acquired in 2008..J. Sagar Associates advised Zamil with a team led by Partners Upendra Nath Sharma, Sidharrth Shankar and Nitesh Bhasin along with Associate Vatsal Gaur..Advantec Coils was advised by its in-house team..With the full control now, the Indian entity has been made a wholly owned subsidiary of the Saudi firm and renamed as Zamil Air Conditioners India Pvt Ltd, reports Business Standard.
Saudi Arabia-based Zamil Industrial Investment Company has acquired the remaining 70 per cent from its joint venture partner Advantec Coils for an estimated Rs. 300 crore..Prior to the transaction, Zamil had originally owned a minority stake in Advantec Coils, which it acquired in 2008..J. Sagar Associates advised Zamil with a team led by Partners Upendra Nath Sharma, Sidharrth Shankar and Nitesh Bhasin along with Associate Vatsal Gaur..Advantec Coils was advised by its in-house team..With the full control now, the Indian entity has been made a wholly owned subsidiary of the Saudi firm and renamed as Zamil Air Conditioners India Pvt Ltd, reports Business Standard.
