The international law firm DLA Piper has represented the Ennepetal-based DIRAK Group, one of the world’s leading manufacturers of technology for hinges, latches and locks, during the full acquisition of DIRAK India Panel Fittings Private Limited. As a result, the subsidiary is once again wholly owned by the DIRAK Group, which had established the joint venture together with the Indian entrepreneur S. D. Chakravarthy in 1997. Mr Chakravarthy had held a stake of 49 per cent to date.
Dr Benjamin Parameswaran, a partner and expert on India at DLA Piper, says: “Advising the DIRAK Group on this Indian transaction dovetails seamlessly with a number of prominent cases to show that the DLA Piper India Group is now perceived by clients of note as a leading player in the India business.” DLA Piper was recently chief advisor during the IPO of Coal India, India’s biggest public offering to date with a volume of 3.4 billion US dollars.
Chief advisory services for this case were carried out by the India specialists Dr Benjamin Parameswaran (Hamburg/Cologne, Corporate/M&A) and Dr Daniel Sharma (Brussels/Frankfurt am Main, Litigation & Regulatory), who are also responsible in Europe for the global India Group of DLA Piper. The latter comprises a tightly knit group of partners in Continental Europe, the US, the UK, the Middle East, and Asia. All are acknowledged to have extensive expertise in the Indian market, documented by a large number of transactions and other cases. The long-term objective of DLA Piper is to have a presence with its own offices in India as soon as the local regulatory conditions in that country make it possible.
In India, DLA Piper cooperated with the commercial law firm Amarchand & Mangaldas in Bangalore (Reeba Chacko, Arjun Lall, Rashmi Pradeep, Maria Cheeran).
The buyers were represented by J. Sagar Associates (Murali Ananthasivan) in Bangalore.
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