J. Sagar Associates acted for Cikautxo S. Coop (Cikautxo), a large Spanish auto component manufacturer, in a complete buy out of its existing Joint Venture Partner – Taurus Flexible Private Limited, a Jamshedpur based company (TFPL) from their Joint Venture – Cikautxo Taurus Flexibles Private Limited (JV).

TFPL has a significant presence in the auto component manufacturing space. Earlier in 2011, JSA had acted for Cikautxo in setting up of the JV. Pursuant to the transaction, Cikautxo along with its nominee (Mondragon Inversiones, S.P.E., S. Coop) hold 100% (one hundred percent) of the equity share capital of the JV on a fully diluted basis.

The JSA team comprised Partners Upendra Nath Sharma & Pallavi Puri; Senior Associate Kartik Jain; and Associate Udhav Gulati.