Voltas Limited, a Tata Enterprise, and Turkey’s Ardutch B.V. (a subsidiary of Arçelik A.S), have agreed to establish a Joint Venture Company with equity capital of USD 100 million, to enter the consumer durables market in the country..Talwar Thakore & Associates represented Voltas, and the team was led by Partner Feroz Dubash along with Managing Associate Nekzad Dhunjibhoy and Associate Gayatri Chadha..Trilegal advised Arcelik. The Trilegal team was led by Partner Delano Furtado and the team included Counsel Naresh Pareek and Associates Gavin Pereira, Sunayana Bose and Aliya Munsiff..The new company to be incorporated in India will be an equal partnership joint venture. The proposed JVC will leverage the strong brand presence and wide sales and distribution network of Voltas, which is the market leader for residential air-conditioners in India, with over 20% market share..Arçelik will bring to the JVC its strong R&D and manufacturing prowess, in addition to a wide product range and global sourcing capabilities..The proposed JV will launch refrigerators, washing machines, microwaves and other white goods and domestic appliances in India..Read the press release:
Voltas Limited, a Tata Enterprise, and Turkey’s Ardutch B.V. (a subsidiary of Arçelik A.S), have agreed to establish a Joint Venture Company with equity capital of USD 100 million, to enter the consumer durables market in the country..Talwar Thakore & Associates represented Voltas, and the team was led by Partner Feroz Dubash along with Managing Associate Nekzad Dhunjibhoy and Associate Gayatri Chadha..Trilegal advised Arcelik. The Trilegal team was led by Partner Delano Furtado and the team included Counsel Naresh Pareek and Associates Gavin Pereira, Sunayana Bose and Aliya Munsiff..The new company to be incorporated in India will be an equal partnership joint venture. The proposed JVC will leverage the strong brand presence and wide sales and distribution network of Voltas, which is the market leader for residential air-conditioners in India, with over 20% market share..Arçelik will bring to the JVC its strong R&D and manufacturing prowess, in addition to a wide product range and global sourcing capabilities..The proposed JV will launch refrigerators, washing machines, microwaves and other white goods and domestic appliances in India..Read the press release: