Kayaba Industry Co., Ltd. (TSE:7242) agreed to acquire 50% stake in Conmat Systems Pvt. Ltd. on February 5, 2013. Post transaction, PremRaj Keshyep, Managing Director of Conmat Systems will hold 50% stake in Conmat Systems and the name will change to KYB-Conmat Pvt.

Ltd. Takahiro Sasaki, currently Deputy Executive Officer of Special Purpose Vehicles Department of Kayaba Industry will act as Executive Chairman of Conmat. The transaction is expected to be completed in February 2013. TC Capital acted as financial advisor to Conmat Systems Pvt.

Ltd. Zakir Merchant of Khaitan & Co acted as legal advisor to Kayaba Industry and Reena Grover, Tejasvini Shirodkar, Ankur Singhania and Jessica Chaudhary of Rajani Associates acted as legal advisor to Conmat and its promoters.