Illinois-based global manufacturing company Tenneco has hired Khaitan & Co to conduct due diligence on the Indian subsidiaries of Federal-Mogul prior to its purchase of the company.
“Since the deal involved legal due diligence of several subsidiaries of Federal-Mogul in India which had multiple real estate properties across various states, advising on local state issues for the acquisition and spin-off after the closing of the deal was a unique feature,” Khaitan & Co partner Rabindra Jhunjhunwala told India Business Law Journal.
The firm also advised on trade union and other labour law issues relating to the Indian subsidiaries, completing the diligence process within three weeks.
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