JSA advised the Nokia group in securing the approval of the National Company Law Tribunal (NCLT) on a composite scheme of arrangement to validate the mobile giant’s merger with Alcatel-Lucent.
The global merger was initiated in 2015, when Nokia announced the acquisition of Alcatel-Lucent in an all-stock deal.
Under the present arrangement, Alcatel-Lucent India, Mformation Software Technologies India, Alcatel-Lucent Managed Solutions India are the transferor companies, while Nokia Solutions & Networks India is the transferee company.
The scheme was structured in three layers, with the first reducing the capital of Alcatel-Lucent India. The second layer amalgamates Alcatel-Lucent Managed Solutions India with Alcatel-Lucent India, which is also its holding company. The third layer amalgamates the consolidated entity and Mformation Software Technologies India with Nokia Solutions & Networks India.
The NCLT approved the scheme on 7 September 2022.