DMD Advocates advised National Stock Exchange of India and BSE-listed Escorts when Japanese agriculture and heavy equipment manufacturer Kubota Corporation agreed to increase its shareholding from 9.09% to 53.5% and become a joint promoter.
The deal, valued at INR93.7 billion (USD1.2 billion), was announced on 18 November and is expected to close by 31 March 2022.
DMD Advocates’ team was led by senior partner Rashi Dhir and comprised partner Sumit Sinha, principal associates Saiyam Chaturvedi and Ashima Dewan, and senior associates Divay Rastogi, Tanay Shah and Kishlay Pandey.
While SAM’s executive chairman Shardul Shroff provided strategic input for the deal, the firm’s transaction team was led by partner Rudra Kumar Pandey, who was assisted by partner Amanjot Malhi, principal associate Srinivas Anirudh, senior associates Anshul Asri and Sanyukta Sowani, consultant Jyoti Gautam and associates Sanya Bahl and Akash Deep Singh.
