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Written by Kian Ganz Monday, 04 January 2010 17:05
Kolkata Amarchand spin-off Argus Partners and AZB & Partners have scooped roles on the $124m private equity placement and open offer by Bain Capital in coal tar manufacturer Himadri Chemicals & Industries.AZB Delhi partner Vinati Kastia advised Bain Capital India Investments, Argus founding partner Krishnava Dutt advised Kolkata-based Himadri.
The AZB team also included senior associates Satyajit Gupta and Aparna Mehra, with Argus senior associate Dashan Dudhoria and associate Ankit Guha assisting the company's team.
Kirkland & Ellis was international legal adviser to Bain, with New York partner Srinivas Kaushik co-leading for the firm.
The deal will see Himadri issuing 15.39 per cent of its share capital to Bain for a total value of $54m Rs 252 crore.
The offer will trigger the open offer threshold as Bain will hold more than 15 per cent in the company. It will therefore have to acquire another 20 per cent of shares from Himadri shareholders for around $70m (Rs 328 crore).
It is understood that the open offer will be publicly announced tomorrow.
Argus Partners was founded by former Amarchand partner Krishnava Dutt and has grown to a size of 13 lawyers in only around three months.
BS Investment Bank and Enam acted as financial advisers to Himadri and Bain respectively.
All lawyers declined to comment as the open offer was still ongoing.
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written by debjyoti, 17 January 2010 22:25
Can you kindly provide me with the contact information of Argus Partners?
I am a lawyer looking to relocate to Kolkata, would be great if someone can help with their contact information.
Thanks in advance
Regards,
Debjyoti
BBA.LLB
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[We regret the error and have made the correction, thanks for pointing out, we have amended the copy. -Ed]