Firm advised Terex Corporation (Terex) and its affiliate Terex Singapore Pte. Ltd in relation to the sale of their subsidiary Terex Equipment Private Limited, to Manitou BF, France. The transaction resulted in Terex’s exit from the compact construction business in India. Manitou, together with its subsidiaries, designs, manufactures, distributes, and services all-terrain material handling and compact equipment worldwide. TEPL operates the India-based compact construction business of Terex and it manufactures and sells backhoe loaders, engages in the sale of wheel loaders and contract manufactures and sells skid steer loaders. Core corporate transaction team: Zakir Merchant (Partner), Aravind Venugopal (Principal Associate) and Saswat Subasit (Senior Associate). The core transaction team was assisted by Shriyani Dutta (Associate) and Yashashree Mahajan (Associate) on corporate aspects; Nishad Nadkarni (Associate Partner) on Intellectual property aspects; Vinita Krishnan (Associate Director), Suraj Kumar Shetty (Senior Associate) and Ankit Namdeo (Associate) on Direct Tax Aspects. This deal involved complicated legal and commercial issues associated with the Indian exchange control laws as well as general regulatory aspects. The team had to come up with solutions for complicated legal and commercial issues within strict timelines.