Majmudar & Partners has advised Flakt Woods Group in respect of sale of shares of companies of the Flakt Woods Group engaged in Flakt Woods’ global infrastructure and industry business, to Colfax Corporation, USA. The transaction is valued at Euros 193 million, including assumption of debt by Colfax. The signing of the transaction is complete; however, the transaction has not closed.

The current transaction envisages sale of shares of several Flakt Woods’ entities to Colfax, namely, (i) Fläkt Solyvent S. L. (Spain), (ii) Fläkt Woods Fans (Australia) Pty Ltd (Australia), (iii) Solyvent Fläkt Oy (Finland), (iv) Solyvent Fläkt (India) Private Ltd (India), (v) Solyvent Fläkt AB (Sweden), (vi) Ventilation Holding France SAS (France), and (vii) Solyvent do Brasil Ventiladores Industriais LtdA (Brazil), all such companies being engaged in carrying out the GII Business of Flakt Woods.

Majmudar & Partners role in advising Flakt Woods in respect of the sale of shares of Solyvent Fläkt (India) Private Ltd (India) (i.e., the Indian entity of Flakt Woods engaged in the GII Business) (“Solyvent India”) involved (i) drafting of necessary share sale agreements for sale of shares of the Solyvent India by Flakt Woods Luxembourg Srl and Flakt Woods Cyprus Limited to Colfax; (ii) advising on transfer of other shares held by individual shareholders of Solyvent India; and (iii) advising on tax, exchange control, corporate laws of India and various other formalities required to be completed for effectively transferring the shares of Solyvent India from its present shareholders to Colfax and /or its affiliates. Rukshad Davar, partner, is leading the team from Majmudar & Partners.