Chart Industries’ acquisition of highly engineered cryogenic equipment maker VRV Group required a detailed understanding of sector-specific regulations to identify safety concerns and the necessary compliance measures in manufacturing cryogenic equipment, said a partner involved in the deal.
The Nasdaq-listed US company announced the US$143 million acquisition of Italy-based VRV along with its subsidiaries, including the Indian arm VRV Asia Pacific.
“Given the niche industry, the focus was on compliance with sector-specific laws and environment laws,” said Rukshad Davar, partner and head of the M&A and competition practices at Majmudar & Partners, Indian legal counsel to the acquirer.
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