On September 1, 2014, Alstom announced the closing of the sale of its steam auxiliary components business to Triton, a leading European investment firm. The business was sold for an Enterprise Value of around Euro 730 million as part of the non-core asset disposal programme announced by Alstom in November 2013. The corresponding activities, representing revenues in excess of Euro 400 million have been fully separated and transferred from Alstom to the newly founded ARVOS Group, with Triton as new sole shareholder. This includes transfer of 1700 employees worldwide.

Amarchand Mangaldas advised Alstom India Limited for the India leg of the transaction and Freshfields acted as the international legal advisor for Alstom N.V. The Amarchand Mangaldas corporate team was led by Akila Agrawal, Partner along with Sourav Kanti De Biswas, Principal Associate and Mukul Sharma, Senior Associate and competition law advice was provided by Shweta Shroff Chopra, Partner and AmanS ethi, Associate.