DSK, Pioneer act on $16m sale of Citizen to Daikin Airconditioning
Daikin Airconditioning India has acquired the air handling business of Ahmedabad-based Citizen Industries, a move which will enhance its product positioning into the commercial air-conditioning market, a top company official said. The move would help Daikin to strengthen its presence in the fast-growing commercial air-conditioning markand expects the segment to increase its contribution up to 35 per cent of its turnover from next year. DSK Legal advised the seller shareholders of Citizen (Kamalesh Mehta and Praful Patel and their respective family members) led by a team of partner
Source: legallyindia.com