Khaitan & Co advised AVTEC Limited on the transaction.
Allison Transmission, Inc. has signed an asset purchase agreement to buy the transmission portfolio of India-based AVTEC Limited’s off-highway business and AVTEC’s Madras Export Processing Zone off-highway component machining business
AVTEC Limited manufactures powertrains and precision engineering products. The Company offers automotive engines, heavy duty cycling ecc. AVTEC serves automotive, off-highway, defence, agriculture, and railway industries in India.
Allison Transmission, Inc. provides commercial vehicle parts. Allison Transmission serves customers worldwide.
The Khaitan & Co. team was led by Niren Patel (Piture) and Neil Lopez with assistance from Dinesh Kumar Agrawal and Mayank Jain on indirect tax aspects of the deal and Vinita Krishnan and Sanket Shah on direct tax aspects of the deal.
Involved fees earner: Dinesh Kumar Agrawal – Khaitan & Co.; Mayank Jain – Khaitan & Co.; Vinita Krishnan – Khaitan & Co.; Neil Lopez – Khaitan & Co.; Niren Patel – Khaitan & Co.; Sanket Shah – Khaitan & Co.;
Law Firms: Khaitan & Co.;
Clients: AVTEC Limited;