Tecnova India Pvt. Ltd. advised Fras-Le S.A. (Fras-Le) on a Strategic Partnership with ASK Automotive Pvt. Ltd. The principal purpose of the Joint Venture will be to manufacture Brake Pads and Brake Linings for the Commercial Vehicle Segment in India, Bangladesh, Sri Lanka and Nepal and also for exports to other countries through Fras-Le’s global network.

Fras-Le will be partnering with ASK Automotive to establish a new company called ASK Fras-Le Friction Pvt Ltd, and will collectively be investing over INR 100 crore in the JV over the next 3 years.

The Mergers & Acquisitions team of Tecnova advised Fras-Le in transaction structuring and negotiation between the parties and was the official investment banker in the deal. The Team was led by Mr. Karan Singal, CEO at Tecnova.

Fras-Le will own 51% in the joint venture company. The deal with ASK was signed at Fras-Le’s global headquarters in Caxias do Sul, Brazil on the 5th of December, 2017.