Indian company acquisition further consolidates LG's
18 August 2008
LG, the business law firm, has advised Kaupthing Singer and Friedlander, the sponsor and broker to UK listed company, Renold plc ("Renold"), on Renold's institutional placing to fund the acquisition by Renold's Indian subsidiary, Renold Chain India Private Limited ("Renold India") of certain assets of Indian company L.G. Balakrishan & Bros Ltd ("LGB").
LGB – one of the leading manufacturers of automotive and industrial chains in South India - is listed on the Stock Exchange in India.
The LG team advising Kaupthing Singer and Friedlander was led by corporate partner Geoff Gouriet and included senior associate Farhod Moghadam.
Geoff said: "This is an important deal for Kaupthing and shows, despite difficult market conditions, that there remains a strong investor appetite for deals involving Indian businesses."
The deal marks the latest in a series of Indian-focused transactions on which LG has advised recently, including four AIM admissions.
Eversheds in Manchester advised Renold plc.
Notes to editors:
LG is a business law firm with a particular focus on entrepreneurial and growth market clients seeking to raise capital for their business ventures.
LG's dedicated India Group includes dual Indian/English qualified lawyers who understand the legal, commercial and cultural environment of India. They have extensive experience of advising Indian businesses on their international expansion and other businesses when making significant inbound investment into India.
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