Norton Rose advises India’s Elgi Equipments Ltd on the acquisition of an Italian company
4 September 2012
Norton Rose Studio Legale (Milan and Rome offices) have advised Elgi Equipments Ltd (EEL) on the acquisition of the Italian company, Rotair SpA, through a 100 per cent owned subsidiary incorporated in Italy, Elgi Compressors Italy Srl.
Rotair SpA is located in Northern Italy and is engaged in the design, manufacture and distribution of a range of compressors and allied products for the construction and industrial sectors. Rotair has an annual turnover of €15 million, and has market presence across Europe and other leading international markets.
EEL was established in India in 1960 as a private limited company and was converted into a public limited company in 1975 when it came out with a public issue of 75,000 shares. Its shares are listed on the Mumbai Exchange. EEL is today Asia's largest manufacturer of air compressors and automobile service station equipment. Its products are used in a wide range of applications in areas ranging from mining, transport, pharmaceuticals, power, oil, railways, chemicals, textiles, printing to ship building, paper, electronics, telecommunications, medical, food & beverages and plastics.
EEL has modern manufacturing facilities in India, China and France. It has warehouse facilities in Australia, Brazil and the Middle East and has a sales and service network of 14 Indian and 6 overseas offices, besides a distribution network of 114 dealers in India and 165 distributors worldwide.
The Norton Rose Studio Legale team was led by Paolo Daviddi, corporate partner and head of our Italian practice. Paolo was assisted by of counsel Donatella de Lieto Vollaro and associate Alessandra Fratus. Our team also included employment law expert, of counsel Paolo Grondona and, for tax matters, partner Andrea Fiorelli and associate Francesca Staffieri.
Legal advice to the sellers was provided by Gianni, Origoni, Grippo, Cappelli & Partners.
Mape Advisory Group and Palladio Finanziaria acted as financial advisors to the buyer and seller, respectively.
For further information please contact:
Felicia Kohn, Senior Business Development Manager
Norton Rose Studio Legale
Tel: +39 02 8635 941; Mob: 39 339 758 1226
Notes for editors:
Norton Rose Studio Legale is part of Norton Rose Group, a leading international legal practice offering a full business law service to many of the world’s pre-eminent financial institutions and corporations from offices in Europe, Asia, Australia, Canada, Africa, the Middle East, Latin America and Central Asia.
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