|Deals & Matters|
|10 January 2020|
The Firm represented Tenneco Inc. in the acquisition of Federal-Mogul LLC (“Federal-Mogul”) for a transaction value of US $ 5.4 billion. As a result of the acquisition of Federal-Mogul, provisions of the Takeover Code in India were triggered, and Tenneco Inc. was required to make an open offer to acquire the public shareholding of Federal-Mogul Goetze (India) Limited.
The Firm provided comprehensive legal support on the transaction including in preparing and reviewing the public announcement, detailed public statement, and draft letter of the offer submitted with the Securities and Exchange Board of India (SEBI) in terms of the Takeover Code. Our role also involved appearance before the SEBI, reviewing the investment agreements and other ancillary agreements between the parties, and providing legal opinions on issues pertaining to the Takeover Code, valuation of shares and legal recourse, etc.