Shardul Amarchand Mangaldas (SAM) advised HP when it recently received approval from the Competition Commission of India (CCI) for its US$1.05 billion acquisition of the global printer business of Samsung Electronics, which was announced in September 2016. The CCI’s approval came on 28 April, after a review that SAM said “spanned approximately 170 calendar days”.
SAM, which was involved in preparing, drafting and filing a detailed form II (long form) notification on the acquisition with the CCI, said it was the first time that the CCI had assessed a transaction in the printer segment. SAM’s team was led by partners Naval Satarawala Chopra and Aparna Mehra, and included associates Ritwik Bhattacharya, Supritha Prodaturi and Sapan Parekh.
Skadden Arps Slate Meagher & Flom is HP’s global antitrust counsel on the acquisition, which was expected to close within 12 months of its announcement. After closing, Samsung has agreed to make a US$100 million-300 million equity investment in HP through open market purchases.
HP is the legal successor of Hewlett-Packard, which in November 2015 spun off its information technology business into Hewlett Packard Enterprise. HP, which retained Hewlett-Packard’s distinctive logo, sells printers and personal computers.