Corporate / M&A
Corporate M&A
Gammon India has sold nine Indian project companies of Gammon Infrastructure Projects to a subsidiary of US asset management giant Brookfield Asset Management for around Rs 563 crore.
Corporate M&A
Birla Corporation bought the Eastern cement plants of Lafarge for Rs 5000 crore from Lafarge India following the Competition Commission of India (CCI) order for the French company to divest itself of the units after its Rs $44bn merger with Holcim.
Corporate M&A
Cyril Amarchand Mangaldas acted as legal counsel to BNP Paribas in its Rs 2,000 to 2,200 crore acquisition of Sharekhan, with AZB & Partners acting for the sellers.
J Sagar Associates (JSA) Mumbai partners Somasekhar Sundaresan, Vikram Raghani and Jamshed Bhumgara acted for the management shareholders of Sharekhan.
Cyril Amarchand Mangaldas Mumbai-based corporate partners Ashwath Rau and Shishir Vayttaden led the team for BNP. Senior advisor Anand Sinha, who was formerly deputy governor at the Reserve Bank of India (RBI), advised on regulatory aspects, while Bangalore-based employment partner Rashmi Pradeep assisted with labour law-related advice.
Tax advice was handled by Cyril Amarchand New Delhi-based tax partner SR Patnaik, while Mumbai-based partner Nisha Kaur Uberoi handled the competition law aspects.
AZB Mumbai-based partner Vaidhyanadhan Iyer acted for the multiple sellers.
The Rs 2,000 crore deal was signed on 30 July 2015 and is expected to close by 31 January 2016. The online share trading platform’s sale to BNP has been hailed as a vote of confidence in India’s equity market, reported Economic Times.
Corporate M&A
Slovakian railway wagon manufacturer Tatravagoka AS, advised by Khaitan & Co, has acquired 50 per cent stakes in Jupiter Wagons and Jupiter Alloys and Steel, advised by Shardul Amarchand Mangaldas, in a deal reportedly worth Rs 100 crore ($15.6m).
Jupiter, which is one of India’s biggest railway freight car manufacturers, was advised by Shardul Amarchand Mangaldas partner Abhishek Guha, senior associate Aditya Mehra, and associate Roma A Das.
Tatravagonka drafted in Khaitan & Co Mumbai Mumbai associate partner Kartick Maheshwari on the transactional side, and associate partner Yigal Gabriel on the real estate side.
Deloitte Touche Tohmatsu India Private Limited acted as Jupiter's financial adviser, while Alpen Capital acted for Slovakian company as its financial adviser.
Jupiter Wagons and Jupiter Alloys and Steel are set to be merged after this transaction completed on 14 July.
Corporate M&A
Shardul Amarchand Mangaldas (SAM) Mumbai office managing partner Akshay Chudasama is acting for Warburg Pincus, which is buying a Rs 1,800 crore minority stake in Piramal Realty, which was advised by Cyril Amarchand Mangaldas’ Mumbai office.
Corporate M&A
Khaitan & Co overtook Amarchand Mangaldas in data provider mergermarket’s half-yearly (H1) M&A charts by value, with the first quarter of Amarchand functioning as the split firms of Cyril Amarchand Mangaldas (CAM) and Shardul Amarchand Mangaldas (SAM). AZB & Partners maintained its deal volume lead which it has claimed for two consecutive years.
Corporate M&A
DSK Legal advised Klenzaids Contamination Controls in selling 49 per cent stake to Robert Bosch Investment Nederland which was advised by Khaitan & Co.
DSK Mumbai co-founding partner Anand Desai, managing associate Pragya Dhamija and associate Prachi Garg acted for Klenzaids, which has a turnover around around EUR 6m, reported trade magazine BioSpectrum.
Khaitan Mumbai partners Rabindra Jhunjhunwala and Niren Patel acted for global Bosch Packaging Technology which has a global turnover of EUR 1.1bn.
In the Bosch-Klenzaids joint venture that will employ around 380 staff Klenzaids will contribute its expertise in clean-room and processing technologies and peripheral systems, and Bosch will take care of innovative filling technologies.
Corporate M&A
Rajani Singhania & Partners advised surgical sutures maker Stericat Gut Strings on the acquisition of a majority stake in it by French firm Groupe Peters Surgical which was advised by Tatva Legal.
Rajani managing partner Prem Rajani, partner Poorvi Sanjanwala and associates Nishtha Mehta and Kashmira Bakliwal acted for Stericat.
Tatva Delhi partner Simran Singh and lawyer Sumit Khosla acted for Groupe Peters.
The finance ministry rejected the request for approval for the deal on the ground that the acquisition partly involved share swap whereas it had only granted Stericat approval to bring in Rs 43.52 crore of FDI in cash through the sale of 77.5 per cent of its shares to Groupe, reported the PTI.