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Phoenix, Tatva seal sale of $92m Indian airline caterer Skygourmet with Travers Smith, Proskauer

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Phoenix Legal and Tatva Legal have advised on the global catering and onboard services provider Gategroup’s 74 per cent stake take-over of India’s leading airline catering company Skygourmet, which is valued at $92m.

Gategroup was represented by Tatva Legal partners Shishir Sharma and Simran Singh and associate Seher Ali.

Phoenix Legal advised India Hospitality Corporation (IHC) which owned Skygourmet Catering, with Mumbai partner Sawant Singh leading the transaction along with associates Akanksha Midha and Raghuveer Sarathy.

IHC was also advised by the London office Travers Smith partner Spencer Summerfield and US-based Proskauer Rose partner Jeffrey A Horwitz.

Singh said that he had been representing IHC for a few years now in India, with the original referral having come to him from Proskauer Rose.

The deal was announced yesterday and implies an enterprise value for the whole of Skygourmet of approximately $92m. The companies have entered into a joint venture under which IHC would retain 26 per cent of its existing shares in Skygourmet as per a shareholder agreement.

Skygourmet is a leader in airline catering in India with a production capacity of more than 110,000 meals per day and has catering facilities at all six of India’s major airports.

Photo by Debarka Banik

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