Desai & Diwanji Mumbai partner Vishwang Desai, associate partner Sakshi Mehra and senior associate Jolly Abraham led for Henkel in India together with Henkel’s Germany-based in-house team.

AZB Mumbai partner Essaji Vahanvati and associates Bhavi Sanghvi and Ami Parikh acted for Indian insect repellent and detergent maker Jyothy Laboratories.

The deal involved Jyothy buying Henkel’s 50.97% equity-stake for Rs 118 crore ($26m) and 100% of its preference capital in Henkel India. The total deal value of the acquisition would be Rs 616.5 crore ($137m), according to Desai & Diwanji.

On Monday Jyothy offered to buy a further 20 per cent of Henkel India shares in an open offer.

The combined entity will be double the size of either company and has a turnover of nearly Rs 1,300 crore, according to the Business Standard.

Photo by Materials Aart