Dixon Technologies (India) Limited and vivo Mobile India Private Limited have embarked on a joint business venture to manufacture electronic devices, with a focus on smartphones, within India. This significant collaboration is supported by two major law firms: Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas.
Cyril Amarchand Mangaldas Advises Dixon Technologies
The distinguished law firm Cyril Amarchand Mangaldas played a pivotal role in advising Dixon Technologies for this joint venture. Their responsibilities encompassed conducting comprehensive legal due diligence on vivo, advising on the transaction structure, and negotiating key documents such as the joint venture agreement, shareholders agreement, and asset purchase agreement.
The transaction was steered by an experienced team led by Senior Partner Akila Agrawal, alongside Partner Megha Bhargava and Partner Ishita Khandelwal. Additional support was provided by Principal Associates Udyan Arya Shrivastava and Anusha Rai, with Associates Rohit Raj and Siddharth Tiwari also contributing significantly.
Shardul Amarchand Mangaldas Advises vivo Mobile India
On the other side of the table, Shardul Amarchand Mangaldas & Co offered their expertise to vivo Mobile India. The legal advisory was led by Partner Nivedita Tiwari, with the assistance of Principal Associates Kuhuk Jain and Tweisha Mishra, as well as Senior Associate Jasmine Khan.
Specialized teams within Shardul Amarchand Mangaldas addressed various aspects of the transaction. The exchange control and regulatory compliance under Press Note 3 were handled by Nivedita Tiwari, Partner Devesh Pandey, and Principal Associate Kuhuk Jain. The intellectual property concerns were managed by Partner Apoorva Murali and Associate Anshika Chadha. The competition law aspects were overseen by Partner Manika Brar and Senior Associate Arjav Kulshreshtha, while the employment law team included Partner Pooja Ramchandani, Principal Associate Suryansh Gupta, and Associate Aradhana Gorur.
Regulatory Approval and Strategic Implications
vivo Mobile India has secured approval from the Government of India under Press Note 3 of 2020, which was issued by the Department for Promotion of Industry and Internal Trade. This approval facilitates the incorporation of the joint venture company (JV Co.) and the initial subscription of its shares.
Upon the completion of the transaction, JV Co. will acquire specific manufacturing assets from vivo. Dixon Technologies will hold a majority stake of 51%, while vivo will retain a 49% share. The new venture is set to manufacture a portion of vivo’s OEM smartphone orders domestically and is also poised to undertake OEM operations for other brands.
This strategic partnership is expected to significantly enhance Dixon Technologies’ manufacturing capabilities and solidify its presence in the Android smartphone ecosystem in India.
