Kochhar & Co. Advised Hitachi Appliances Inc. on Divestment of Control Over Hitachi Home & Life Solutions into a Joint Venture with Johnson Controls Inc.

Deals & Matters
1 February 2016

Kochhar & Co. was the  India counsel advising Hitachi Appliances and the Hitachi Group – a Global Fortune 500 Japanese conglomerate in respect of formation of a joint venture with Johnson Controls Inc. for its global air conditioning business. The transaction involved restructuring of its entire air conditioning business spread across several jurisdictions to be housed in the joint venture company. The Indian leg of the transaction entailed divesting control of a listed Indian company and the change of control triggering an open offer obligation under the Takeover Code.

The said transaction was the Winner of the Deal of the Year 2015-16 Award by ASIAN-MENA COUNSEL.