Our client operates in an industry where limitations are placed on foreign ownership, making a joint venture a requirement for entry. In this case, they were seeking two partners to provide all India coverage for distribution of the product.

Over a prolonged period we helped investigate a number of possible candidates, reaching broad agreement with one and then jointly short listing and negotiating terms with the third partner. Full agreement was reached within seven months.

We were able to include in the agreement step up rights on attractive terms for our client in the event that the regulations change, which will in the long term maximise the returns to them from their investment in India.

Managing three way negotiations, including two Indian parties and an overseas client, required considerable skill and patience.