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Desai & Diwanji, Vaish on tissue maker takeover

Vaish Associates Advocates and Desai & Diwanji have advised on the complete buy-out of Premier Tissues (India) Limited by Avantha Group’s Ballarpur Industries for Rs 42 crore ($9.3m).

Delhi-based teams of Vaish and Desai & Diwanji acted for Ballarpur Industries and Premier Tissues respectively on the transaction. Both the companies are Indian manufacturers and exporters of paper tissues and related products.

Vaish Delhi corporate partner Satwinder Singh was assisted by principal associates Manish Tully and Rupa Radhakrishnan, and senior associate Mohit Chaurasia.

Desai & Diwanji Delhi partner Amit Khansaheb advised the seller company.

The legal work included the execution of a share purchase agreement for a 100 per cent acquisition of the entire paid-up capital of the target company.

The deal closed last week on 10 March.

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