DK Business Network
CEAT Limited purchased Michelin’s Compact Construction Equipment Tyre and Tracks division under the “Camso” brand. For a total consideration of $225 million. The purchase includes a manufacturing plant in Sri Lanka as well as worldwide ownership of the “Camso” brand.
CEAT received advice on this acquisition from Khaitan & Co., which helped with the drafting, structuring and negotiating of a number of deal documents. Intellectual property (IP) assignment agreements, IP license agreements, asset purchase agreements, and a number of ancillary agreements were among them. They also assisted with closing the deal, getting a well insurance policy, and meeting conditional precedents.
Haigreve Khaitan (Senior Partner), Surbhi Kejriwal (Partner), Harsh Khemka (Partner), Dipshikha Dhar (Senior Associate), Nikhil Singh (Associate) and Raxi Shankar made up the core team for this acquisition.
The following experts helped them:
Aspects of Intellectual Property: Shouraseni Chakraborty (Associate), Sourav Dan (Counsel) and Shailendra Bhandare (Partner).
Aspects of competition and merger control law: Anshuman Sakle (Partner).
For the material handling, construction, agricultural and powersports sectors, Camso is a leading manufacturer of off-road tires, wheels, rubber tracks and track systems.
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