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SAM Mumbai, AZB, BMR on $94m Sumitomo share sale to Excel Crop Care

Shardul Amarchand Mangaldas (SAM) advised Japanese conglomerate Sumitomo Corp on its Rs 623.44 crore ($93m) buy of 44.98 per cent stake in Excel Crop Care which was advised by AZB & Partners.

SAM Mumbai managing partner Akshay Chudasama, partner Yogesh Chande and principal associate Roopal Kulsretha acted for Sumitomo.

BMR Advisors acted as sole financial advisors to Sumitomo, with BMR Legal also providing legal advice to Sumitomo alongside SAM

Japanese law firm Kojima Law Office also acted for Sumitomo.

AZB Mumbai partner Vaidhyanadhan Iyer and associate Medha Marathe acted for Excel.

“Under the agreement, Sumitomo is acquiring over 49.5 lakh equity shares of the company at Rs 1,259.36 apiece from the company, promoter group entities and certain public shareholders, comprising members of Ratnabali group,” reported Mint.

Story updated at 13:38 to include BMR

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