Auto components maker Joyson Safety Systems (JSS) merged two of its Indian joint ventures (JV), KSS Abhishek Safety Systems and Takata India, to create a new entity called Joyson Anand Abhishek Safety Systems.
JSS had a JV for KSS Abhishek Safety Systems with Abhishek Industries, while the JV for Takata India was with Anand Group. The tri-party venture now has a shareholding structure of JSS (65%), Anand Group (30%) and Abhishek Group (5%). The deal was valued at ₹1.4 billion (US$20 million).
“This venture is an attempt to marry the two existing ones by synergizing the resources and strategies. What triggered this was the global acquisition of KSS and thereby Takata by JSS,” J Sagar Associates (JSA) partner Pallavi Puri told India Business Law Journal.