Nishith Desai Associates (NDA) advised the world’s largest palm oil maker, Singapore-based Wilmar International, in buying a controlling stake in Renuka Sugars for $200m (Rs 1,242 crore).

Renuka Sugars was advised by Crawford Bayley while AZB & Partners advised the promoters the Murkumbi family.

NDA Mumbai partner Nischal Joshipura, Singapore partner Vivek Kathpalia, M&A co-head Simon Reis, senior associate Arun Scaria and associate Ankit Mishra acted for Wilmar.

Crawford Bayley Mumbai partner Sanjay Asher acted for Renuka Sugars and AZB Delhi partner Anil Kasturi acted for the Murkumbi family.

Khaitan & Co executive director Sudhir Bassi and partner Arindam Ghosh acted for Standard Chartered Bank, which was the financial adviser and manager to the issue.

The three-part deal will start with Wilmar’s Rs 517 crore buy of 257.5 million shares followed by a an open offer for up to 26 per cent of the expanded share capital of Renuka and then a rights issue to raise up to Rs 725 crore of primary share capital, reported the Economic Times.

Wilmar’s stake in the company cannot go beyond 49 per cent, reported Mint.