Schneider Electric’s Acquisition of Larsen & Toubro Electrical & Automation Business

White & Case LLP and AZB & Partners advised Schneider Electric in the transaction, while Khaitan & Co advised MacRitchie Investments, and Shardul Amarchand Mangaldas & Co (SAM) advised Larsen & Toubro, Trilegal represented Schneider and MacRitchie, Bredin Prat acted for Schneider on the international competition aspects, and Cleary Gottlieb advised MacRitchie.

Schneider Electric, in partnership with Temasek Holdings Private Limited (Temasek), executed its INR 14,000 crore acquisition of Larsen & Toubro Electrical & Automation business.

Schneider Electric, a global player in energy management and automation, successfully completed the transaction combining Larsen & Toubro’s Electrical & Automation business and Schneider Electric India’s Low Voltage and Industrial Automation Product business on August 31, 2020. Following Schneider Electric’s acquisition of Larsen & Toubro’s Electrical & Automation business, Schneider Electric and Temasek, Singapore’s state investment firm, entered into a consortium for the combined business where both partners made investments in Schneider Electric’s wholly owned subsidiary, Schneider Electric India Private Limited, and in a newly created holding entity formed under the laws of Singapore.

The Schneider Electric legal team was led by Peter Wexler, Christopher Lee, Kishore Shetty, Ankur Singhal and Bhumika Sood, with support on intellectual property matters provided by Stephen Manetta and Nicole Linehan and with support on corporate governance matters provided by Mary Kibble. The global transaction team was led by Luc Remont, Damini Chaudhari, Santosh Kumar and Deepak Sharma, with the support of countless additional team members based around the world.

The White & Case team that advised on the transaction was led by partner Germaine Gurr (New York), counsel Emilio Grandio (Houston), associate Aaron Raffel (New York), and associate Hannah Craft (Houston); with partners Jacquelyn MacLennan (Brussels), Sami Al-Louzi (Dubai), Arlene Arin Hahn (New York), Jon Bowden (Singapore), Rebecca Farrington, Mark Gidley and Anna Kertesz (all Washington, DC); counsels Aditya Singh (Singapore) and F. Paul Pittman and Tamer Nagy (both Washington, DC); as well as associates Roger Gaspard (Dubai), Joy Chen and Peiwen Chen (both Hong Kong); Chantal Carriere and Chris Hebert (both Houston); Muhammad Fatah (Jakarta), Joshua Butler and Henry Carlson (both Melbourne); Jaymon Ballew, Elle Davis and Aviv Lazar (all New York); Reem Albakr and Joza Al-Rasheed (both Riyadh); Si Wei Chua, Callum Fitzpatrick, Jessica Leung, Trishala Naidu, Ee Lynn Tan and Rob Whitworth (all Singapore); and Alexander Andresian (Washington, DC).

The AZB & Partners team that advised on this included sr. partner Ashwath Rau, partners Jasmin Karkhanis, Atreya Bhattarcharya and Richa Choudhary, sr. associates Pranav Atit, John Raghav and Priyanka Butani, and associates Rachana Rautray, Arpit Sinhal, Pranav Tolani, Sweta Ananthanarayanan and Armaan Srinivasan. Also involved were partner Nandan Pendsey, Esq. and associate Rashmee Kumar on IP; senior partner Nohid Nooreyezdan, sr. associate Priya Parab and associate Jay Shah on real estate issues; and sr. associates Apeksha Mattoo and Rina Goyal on employment aspects.

Khaitan & Co’s transaction team comprised partner Aakash Choubey, principal associate Radhika Agarwal, and senior associates Rohan Shrivastava and Srikanth Mantravadi. They were assisted by senior associate Gautam Suseel, and associates Srishti Mukherjee and Amulya Sharma (on aspects of closing); partner Devendra Deshmukh, senior associate Amruta Joshi and associate Meherasp Mistry (real estate); partner Manisha Shroff and principal associate Smita Jha (debt funding); and partner Siddharth Srivastava and principal associate Kanika Kadam (financing due diligence).

SAM’s team was led by partner Iqbal Khan and included principal associate Faraz Khan, senior associate Tanvee Vasudevan, and associate Paavni Anand. The firm’s competition law advisory team was led by partner Shweta Shroff Chopra and included partners Aparna Mehra and Gauri Chhabra, senior associate Ritwik Bhattacharya, and associates Neetu Ahlawat, Kajori De and Abhiruchi Jhawar. While partner Mukul Baveja advised on intellectual property-related aspects, partner Ashoo Gupta and associates Aanchal Jogani, Mansi Samdani, Shalaka Mehta and Khusbu Mehta provided real estate advice. Managing partner Pallavi Shroff provided strategic advice.

Trilegal’s team was led by its competition law head and partner, Nisha Kaur Uberoi, who was assisted by counsel Akshay Nanda, senior associates Harshita Parmar and Sanjeev Sriram, and associates Sarthak Pande, Vayshnavi Ganesh, Shivangi Chawla and Aditi Khemani.

Bredin Prat’s team included partner Pierre Honoré and Marc Pittie.

Cleary Gottlieb’s team comprised partner Nicholas Levy and counsel Richard Pepper.

Involved fees earner: Sweta Ananthanarayanan – Azb & partners; Pranav Atit – Azb & partners; Atreya Bhattarcharya – Azb & partners; Priyanka Butani – Azb & partners; Richa Choudhary – Azb & partners; Rina Goyal – Azb & partners; Jasmin Karkhanis – Azb & partners; Rashmee Kumar – Azb & partners; Apeksha Mattoo – Azb & partners; Nohid Nooreyezdan – Azb & partners; Priya Parab – Azb & partners; Nandan Pendsey – Azb & partners; John Raghav – Azb & partners; Ashwath Rau – Azb & partners; Rachana Rautray – Azb & partners; Jay Shah – Azb & partners; Arpit Sinhal – Azb & partners; Armaan Srinivasan – Azb & partners; Pranav Tolani – Azb & partners; Pierre Honoré – Bredin Prat; Marc Pittie – Bredin Prat; Nicholas Levy – Cleary Gottlieb Steen & Hamilton; Richard Pepper – Cleary Gottlieb Steen & Hamilton; Radhika Agarwal – Khaitan & Co.; Aakash Choubey – Khaitan & Co.; Devendra Deshmukh – Khaitan & Co.; Smita Jha – Khaitan & Co.; Amruta Joshi – Khaitan & Co.; Kanika Kadam – Khaitan & Co.; Srikanth Mantravadi – Khaitan & Co.; Meherasp Mistry – Khaitan & Co.; Srishti Mukherjee – Khaitan & Co.; Amulya Sharma – Khaitan & Co.; Rohan Shrivastava – Khaitan & Co.; Manisha Shroff – Khaitan & Co.; Siddharth Srivastava – Khaitan & Co.; Gautam Suseel – Khaitan & Co.; Paavni Anand – Shardul Amarchand & Mangaldas & Co.; Mukul Baveja – Shardul Amarchand & Mangaldas & Co.; Gauri Chhabra – Shardul Amarchand & Mangaldas & Co.; Kajori De – Shardul Amarchand & Mangaldas & Co.; Ashoo Gupta – Shardul Amarchand & Mangaldas & Co.; Abhiruchi Jhawar – Shardul Amarchand & Mangaldas & Co.; Faraz Khan – Shardul Amarchand & Mangaldas & Co.; Iqbal Khan – Shardul Amarchand & Mangaldas & Co.; Aparna Mehra – Shardul Amarchand & Mangaldas & Co.; Shalaka Mehta – Shardul Amarchand & Mangaldas & Co.; Shweta Shroff Chopra – Shardul Amarchand & Mangaldas & Co.; Tanvee Vasudevan – Shardul Amarchand & Mangaldas & Co.; Neetu Ahlawat – Shardul Amarchand Mangaldas & Co; Aanchal Jogani – Shardul Amarchand Mangaldas & Co; Khusbu Mehta – Shardul Amarchand Mangaldas & Co; Mansi Samdani – Shardul Amarchand Mangaldas & Co; Shivangi Chawla – Trilegal; Aditi Khemani – Trilegal; Akshay Nanda – Trilegal; Sarthak Pande – Trilegal; Harshita Parmar – Trilegal; Sanjeev Sriram – Trilegal; Nisha Kaur Uberoi – Trilegal; Sami Al-Louzi – White & Case; Joza Al-Rasheed – White & Case; Reem Albakr – White & Case; Alexander Andresian – White & Case; Jaymon Ballew – White & Case; Jon Bowden – White & Case; Joshua Butler – White & Case; Henry Carlson – White & Case; Chantal Carriere – White & Case; Joy Chen – White & Case; Peiwen Chen – White & Case; Hannah Craft – White & Case; Elle Davis – White & Case; Rebecca Farrington – White & Case; Callum Fitzpatrick – White & Case; Roger Gaspard – White & Case; Mark Gidley – White & Case; Emilio Grandio – White & Case; Germaine Nicole Gurr – White & Case; Arlene Arin Hahn – White & Case; Anna Kertesz – White & Case; Aviv Lazar – White & Case; Jessica Leung – White & Case; Jacquelyn MacLennan – White & Case; Tamer Nagy Mahmoud – White & Case; Trishala Naidu – White & Case; Paul Pittman – White & Case; Aaron Raffel – White & Case; Si Wei Chua – White & Case; Aditya Singh – White & Case; Ee Lynn Tan – White & Case; Rob Whitworth – White & Case;

Law Firms: Azb & partners; Bredin Prat; Cleary Gottlieb Steen & Hamilton; Khaitan & Co.; Shardul Amarchand & Mangaldas & Co.; Shardul Amarchand Mangaldas & Co; Trilegal; White & Case;

Clients: Larsen & Toubro Limited ; MacRitchie; Schneider Electric;