Deal Closed | GEA Group | Sale of GEA Bock business to Nord Holdings

GEA sells Bock to private equity business.

Announcement Date: 22-Sep-2020

Name of Client: GEA Group

Name and Description of AcquirerNord Holdings | Germany 

NORD Holding is one of Germany's leading private equity asset managers.

Name and Description of Target: GEA Group | India 

About GEA Group: 

GEA is one of the largest technology suppliers for food processing and a wide range of other industries. The global group focuses on technologies, components and sustainable solutions for sophisticated production processes in diverse end-user markets.

About GEA India:

GEA India headquartered in Vadodara, Gujarat is engaged in providing process engineering solutions, equipment and services for the dairy, food, chemical, pharmaceutical, marine, beverage and brewery industry including industrial refrigeration.

Deal Description: GEA Group has sold its refrigeration compressor manufacturer Bock business to German private equity business Nord Holding. The transaction includes Bock GmbH and its subsidiaries in the Czech Republic and India, as well as its sites in China and Australia selling their Bock business to Nord Holding. Khaitan and Co. assisted GEA Group in the India leg of the global transaction.

Total Consideration: Not disclosed 

Core Transaction Team: Rabindra Jhunjhunwala, Stuti Galiya, Sweta Rao, Amiya Kumar Pati 

Employment law assistance: Anshul Prakash, Deepak Kumar, Prachi Vijay

Data Privacy law assistance: Supratim Chakraborty, Sumantra Bose, Sneh Lata

Taxation law assistance: Vinita Krishnan, Jimmy Bhatt

Real Estate law assistance: Sudheer Madamaiah, Mukund Ullur, Bhargav N Rao

Secretarial assistance: Subramanian Ramaswamy

Competition law assistance: Rahul Singh

Regulatory law Assistance: Vinay Joy, Srishti Ramkrishnan

Role of Firm: Khaitan and Co. assisted GEA Group in the Indian leg of the global transaction pertaining to the sale of refrigeration compressor manufacturer Bock business of GEA entities spread across the world to Nord Holdings, Germany. Khaitan and Co. was involved in the internal restructuring of Indian entities businesses as part of the said global transaction. Khaitan and Co. worked on preparing, negotiating and finalizing transaction documents pertaining to the transfer of Bock and Non-Bock Business between GEA India entities and other relevant documents pertaining to India leg of the global transaction. 

Other legal advisors if any with names of Lead Lawyers: Baker & Mckenzie